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)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments55,59552,28662,10090,45861,74968,379
Cash and cash equivalents55,59552,28662,10090,45861,74968,379
Restricted cash and investments34,06934,15322,92522,9842,4813,473
Receivables124,81396,661109,151145,152127,003103,294
Inventory, net of allowances, customer advances and progress billings13,86213,28712,56410,99410,56710,526
Inventory13,86213,28712,56410,99410,56710,526
Regulatory asset61,33350,33566,82654,65456,62568,043
Other undisclosed current assets22,18422,56121,96914,92318,22718,759
Total current assets:311,856269,283295,535339,165276,652272,474
Noncurrent Assets
Operating lease, right-of-use asset   14,762   
Intangible assets, net (including goodwill)36,81436,81453,62536,81436,81436,814
Goodwill36,81436,81436,81436,81436,81436,814
Intangible assets, net (excluding goodwill)   16,811   
Regulated entity, other noncurrent assets276,592293,263283,620298,362287,625291,577
Other noncurrent assets187,209184,065175,913144,445146,985150,961
Other undisclosed noncurrent assets3,177,7303,103,4373,027,2972,987,6122,934,6762,887,415
Total noncurrent assets:3,678,3453,617,5793,555,2173,467,2333,406,1003,366,767
TOTAL ASSETS:3,990,2013,886,8623,850,7523,806,3983,682,7523,639,241
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities145,436136,988184,523192,587153,212157,948
Interest and dividends payable17,3386,74017,116
Accounts payable138,272120,198140,986157,911139,732140,832
Accrued liabilities7,16416,79043,53717,3386,740 
Deferred revenue   3,101   
Debt131,825133,30075,86575,79075,78355,205
Regulatory liability29,27717,27212,2409,6849,62712,015
Other undisclosed current liabilities56,11962,74418,92144,48647,46156,649
Total current liabilities:362,657350,304294,650322,547286,083281,817
Noncurrent Liabilities
Long-term debt and lease obligation1,052,0701,052,3371,055,1621,053,9441,054,1701,055,638
Long-term debt, excluding current maturities1,052,0701,052,3371,052,4871,053,9441,054,1701,055,638
Finance lease, liability   2,675   
Liabilities, other than long-term debt614,835618,996768,826594,467578,872574,061
Deferred compensation liability, classified   59,000   
Deferred income tax liabilities327,856326,401330,251312,193300,489298,690
Liability, pension and other postretirement and postemployment benefits80,00879,24578,44396,06394,79693,544
Regulatory liability206,971213,350213,679186,211183,587181,827
Other liabilities   73,615   
Operating lease, liability   13,838   
Other undisclosed noncurrent liabilities566,672562,237409,720557,108556,321557,847
Total noncurrent liabilities:2,233,5772,233,5702,233,7082,205,5192,189,3632,187,546
Total liabilities:2,596,2342,583,8742,528,3582,528,0662,475,4462,469,363
Equity
Equity, attributable to parent1,389,5161,298,1961,317,5901,273,4591,202,5221,164,630
Common stock577560556548544538
Additional paid in capital873,923777,605760,336711,004682,353650,499
Retained earnings515,016520,031556,698561,907519,625513,593
Equity, attributable to noncontrolling interest4,4514,7924,8044,8734,7845,248
Total equity:1,393,9671,302,9881,322,3941,278,3321,207,3061,169,878
TOTAL LIABILITIES AND EQUITY:3,990,2013,886,8623,850,7523,806,3983,682,7523,639,241

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

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues194,206145,225176,756238,268198,660158,933
Other undisclosed gross profit   (224,529)   
Gross profit:194,206145,225(47,773)238,268198,660158,933
Operating expenses(34,975)(35,986)(33,293)(33,328)(32,686)(33,411)
Other undisclosed operating income (loss)(143,282)(126,763)107,353(139,994)(138,685)(116,384)
Operating income (loss):15,949(17,524)26,28764,94627,2899,138
Nonoperating income6,1947,1794,2783,0603,9653,663
Public utilities, allowance for funds used during construction, additions    1,0041,042975
Other nonoperating income6,1947,1794,2782,0562,9232,688
Interest and debt expense(13,491)(12,818)(11,714)(11,891)(11,586)(11,495)
Income (loss) from continuing operations before income taxes:8,652(23,163)18,85156,11519,6681,306
Income tax expense (benefit)    (6,243)(1,799)905
Income (loss) from continuing operations:8,652(23,163)18,85149,87217,8692,211
Income before gain (loss) on sale of properties:49,87217,8692,211
Other undisclosed net income (loss)7958296205,8111,346(1,317)
Net income (loss):9,447(22,334)19,47155,68319,215894
Net income attributable to noncontrolling interest10912398189269192
Net income (loss) available to common stockholders, diluted:9,556(22,211)19,56955,87219,4841,086

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net income (loss):9,447(22,334)19,47155,68319,215894
Comprehensive income (loss):9,447(22,334)19,47155,68319,215894
Comprehensive income, net of tax, attributable to noncontrolling interest10912398189269192
Comprehensive income (loss), net of tax, attributable to parent:9,556(22,211)19,56955,87219,4841,086

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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