Essential Utilities Inc. (WTRG) Financial Statements (2024 and earlier)

Company Profile

Business Address 762 W. LANCASTER AVE
BRYN MAWR, PA 19010-3489
State of Incorp. PA
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)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments4,612    3,627
Cash and cash equivalents4,612    3,627
Receivables245,736376,828260,921273,313107,620101,225
Inventory, net of allowances, customer advances and progress billings65,173153,14375,80436,73218,37915,844
Inventory65,173153,14375,80436,73218,37915,844
Regulatory asset29,08019,27220,1505,085  
Disposal group, including discontinued operation  11,167  1,5583,139
Other undisclosed current assets147,37897,74980,92065,0901,885,18123,337
Total current assets:491,979658,159437,795380,2202,012,738147,172
Noncurrent Assets
Operating lease, right-of-use asset37,416  63,30812,867
Property, plant and equipment12,097,07211,130,94610,251,8669,512,8776,345,7905,930,326
Long-term investments and receivables     5,9846,959
Long-term investments     5,9846,959
Intangible assets, net (including goodwill)2,344,3312,345,3962,346,5792,331,78863,82252,726
Goodwill2,340,7382,340,7922,340,8152,324,54763,82252,726
Intangible assets, net (excluding goodwill)3,5934,6045,7647,241  
Regulated entity, other noncurrent assets1,766,8921,342,7531,429,8401,362,788878,132788,076
Restricted cash and investments1,3811,3421,3131,268  
Disposal group, including discontinued operation, noncurrent assets  32,124    
Estimated insurance recoveries1,3401,5302,4583,4917,9416,108
Other undisclosed noncurrent assets101,048206,857188,42749,53734,71133,129
Total noncurrent assets:16,349,48015,060,94814,220,48313,325,0577,349,2476,817,324
TOTAL ASSETS:16,841,45915,719,10714,658,27813,705,2779,361,9856,964,496
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities348,107369,516395,811377,453177,130170,254
Interest and dividends payable40,81539,40829,81823,300
Taxes payable37,92437,17222,77522,234
Accounts payable221,191238,843192,932177,48974,91977,331
Accrued liabilities126,916130,673124,140123,38449,61847,389
Debt80,773228,05081,72244,00312,1668,950
Derivative instruments and hedges, liabilities      59,779
Regulatory liability31,27035,27638419,866  
Disposal group, including discontinued operation  3,263    
Other undisclosed current liabilities337,777385,764197,146162,551129,553159,994
Total current liabilities:797,9271,021,869675,063603,873318,849398,977
Noncurrent Liabilities
Long-term debt and lease obligation, including:6,826,0856,617,3955,947,3575,630,2433,077,4002,563,660
Long-term debt, excluding current maturities6,826,0856,371,0575,779,5045,507,7442,943,3272,398,464
Other undisclosed long-term debt and lease obligation  246,338119,62366,857122,428165,196
Liabilities, other than long-term debt2,676,1982,338,5412,374,9212,280,3671,651,7781,566,955
Deferred revenue128,755114,732103,61999,01495,556
Contract with customer, liability93,343
Asset retirement obligations8488431,2561,336  
Deferred tax liabilities, net845,403
Deferred income tax liabilities1,628,3241,345,7661,406,5371,258,098936,158
Liability, pension and other postretirement and postemployment benefits38,85031,24450,22691,896  
Regulatory liability820,910778,754769,617773,310517,599531,027
Disposal group, including discontinued operation, liabilities  974    
Other liabilities24,08628,56243,66656,713102,46597,182
Operating lease, liability34,42537,66648,23055,64211,645
Other undisclosed noncurrent liabilities 645,066363,916476,487506,917433,098425,540
Total noncurrent liabilities:10,147,3499,319,8528,798,7658,417,5275,162,2764,556,155
Total liabilities:10,945,27610,341,7219,473,8289,021,4005,481,1254,955,132
Equity
Equity, attributable to parent5,896,1835,377,3865,184,4504,683,8773,880,8602,009,364
Common stock138,297133,486128,050124,285111,93590,576
Treasury stock, value(86,485)(83,693)(83,615)(81,327)(77,702)(75,835)
Additional paid in capital4,137,6963,793,2623,705,8143,379,0572,636,555820,378
Retained earnings1,706,6751,534,3311,434,2011,261,8621,210,0721,174,245
Total equity:5,896,1835,377,3865,184,4504,683,8773,880,8602,009,364
Other undisclosed liabilities and equity      
TOTAL LIABILITIES AND EQUITY:16,841,45915,719,10714,658,27813,705,2779,361,9856,964,496

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

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues2,053,8242,288,0321,878,1441,462,698889,692838,091
Cost of revenue(971,434)(1,578,447)(1,249,075)(996,348)(545,555)(507,753)
Gross profit:1,082,390709,585629,069466,350344,137330,338
Operating expenses(390,293)(48,398)(26,360)(31,664)(3,978)(7,160)
Operating income:692,097661,187602,709434,686340,159323,178
Nonoperating income (expense)19,58023,17123,64016,070(13,261)(48,752)
Investment income, nonoperating     (23,742)(59,779)
Public utilities, allowance for funds used during construction, additions16,96723,66520,79212,68716,17213,023
Other nonoperating income (expense)2,613(494)2,8483,383(5,691)(1,996)
Interest and debt expense(283,362)(238,116)(207,709)(188,435)(143,911)(98,902)
Other undisclosed income from continuing operations before equity method investments, income taxes  4,6663,3602,65028,5392,795
Income from continuing operations before equity method investments, income taxes:428,315450,908422,000264,971211,526178,319
Other undisclosed income from continuing operations before income taxes3,466     
Income from continuing operations before income taxes:431,781450,908422,000264,971211,526178,319
Income tax benefit66,44514,3299,61219,87813,01713,669
Income from continuing operations:498,226465,237431,612284,849224,543191,988
Income before gain (loss) on sale of properties:431,612284,849224,543191,988
Net income available to common stockholders, diluted:498,226465,237431,612284,849224,543191,988

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:498,226465,237431,612284,849224,543191,988
Comprehensive income, net of tax, attributable to parent:498,226465,237431,612284,849224,543191,988

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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