2022 Q1 Form 10-Q Financial Statement
#000103520122000005 Filed on April 28, 2022
Income Statement
Concept | 2022 Q1 | 2021 Q1 |
---|---|---|
Revenue | $158.9M | $146.5M |
YoY Change | 8.47% | 8.67% |
Cost Of Revenue | $61.54M | $54.80M |
YoY Change | 12.3% | 1.48% |
Gross Profit | $111.5M | $92.90M |
YoY Change | 19.97% | 29.75% |
Gross Profit Margin | 70.13% | 63.4% |
Selling, General & Admin | $33.41M | $30.40M |
YoY Change | 9.9% | 2.36% |
% of Gross Profit | 29.98% | 32.72% |
Research & Development | ||
YoY Change | ||
% of Gross Profit | ||
Depreciation & Amortization | $29.48M | $27.67M |
YoY Change | 6.55% | 10.27% |
% of Gross Profit | 26.45% | 29.78% |
Operating Expenses | $102.3M | $90.10M |
YoY Change | 13.56% | 9.34% |
Operating Profit | $9.138M | $2.919M |
YoY Change | 213.05% | -142.16% |
Interest Expense | -$10.93M | -$9.900M |
YoY Change | 10.42% | 0.0% |
% of Operating Profit | -119.63% | -339.16% |
Other Income/Expense, Net | $2.688M | $3.977M |
YoY Change | -32.41% | -212.66% |
Pretax Income | $1.406M | -$2.800M |
YoY Change | -150.21% | -88.89% |
Income Tax | -$900.0K | $300.0K |
% Of Pretax Income | -64.01% | |
Net Earnings | $1.086M | -$3.032M |
YoY Change | -135.82% | -85.07% |
Net Earnings / Revenue | 0.68% | -2.07% |
Basic Earnings Per Share | $0.02 | -$0.06 |
Diluted Earnings Per Share | $0.02 | -$0.06 |
COMMON SHARES | ||
Basic Shares Outstanding | 53.73M shares | 50.44M shares |
Diluted Shares Outstanding | 53.78M shares | 50.44M shares |
Balance Sheet
Concept | 2022 Q1 | 2021 Q1 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $68.38M | $84.40M |
YoY Change | -18.98% | -39.89% |
Cash & Equivalents | $68.38M | $84.39M |
Short-Term Investments | ||
Other Short-Term Assets | $103.0M | $131.8M |
YoY Change | -21.85% | 399.24% |
Inventory | $10.53M | $9.200M |
Prepaid Expenses | ||
Receivables | $50.28M | $39.65M |
Other Receivables | $40.30M | $37.30M |
Total Short-Term Assets | $272.5M | $302.4M |
YoY Change | -9.9% | 11.97% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $2.887B | $2.685B |
YoY Change | 7.54% | 9.72% |
Goodwill | $36.81M | $31.39M |
YoY Change | 17.28% | 1100.38% |
Intangibles | ||
YoY Change | ||
Long-Term Investments | ||
YoY Change | ||
Other Assets | $151.0M | $124.4M |
YoY Change | 21.35% | 58.76% |
Total Long-Term Assets | $3.367B | $3.169B |
YoY Change | 6.24% | 6.68% |
TOTAL ASSETS | ||
Total Short-Term Assets | $272.5M | $302.4M |
Total Long-Term Assets | $3.367B | $3.169B |
Total Assets | $3.639B | $3.471B |
YoY Change | 4.83% | 7.12% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $140.8M | $120.5M |
YoY Change | 16.83% | 21.74% |
Accrued Expenses | $73.77M | $60.60M |
YoY Change | 21.72% | 12.85% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $50.00M | $435.0M |
YoY Change | -88.51% | 29.81% |
Long-Term Debt Due | $5.205M | $5.136M |
YoY Change | 1.34% | -76.51% |
Total Short-Term Liabilities | $281.8M | $655.5M |
YoY Change | -57.01% | 27.74% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $1.056B | $781.0M |
YoY Change | 35.17% | -0.7% |
Other Long-Term Liabilities | $833.2M | $829.3M |
YoY Change | 0.47% | -14.3% |
Total Long-Term Liabilities | $1.056B | $781.0M |
YoY Change | 35.17% | -0.7% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $281.8M | $655.5M |
Total Long-Term Liabilities | $1.056B | $781.0M |
Total Liabilities | $1.337B | $1.436B |
YoY Change | -6.89% | 10.53% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | $513.6M | $457.6M |
YoY Change | 12.24% | 18.39% |
Common Stock | $651.0M | $472.2M |
YoY Change | 37.87% | 28.1% |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $1.165B | $929.8M |
YoY Change | ||
Total Liabilities & Shareholders Equity | $3.639B | $3.471B |
YoY Change | 4.83% | 7.12% |
Cashflow Statement
Concept | 2022 Q1 | 2021 Q1 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | $1.086M | -$3.032M |
YoY Change | -135.82% | -85.07% |
Depreciation, Depletion And Amortization | $29.48M | $27.67M |
YoY Change | 6.55% | 10.27% |
Cash From Operating Activities | $54.19M | $29.98M |
YoY Change | 80.77% | 637.13% |
INVESTING ACTIVITIES | ||
Capital Expenditures | -$68.50M | -$66.80M |
YoY Change | 2.54% | 2.3% |
Acquisitions | ||
YoY Change | ||
Other Investing Activities | -$180.0K | -$1.900M |
YoY Change | -90.53% | |
Cash From Investing Activities | -$68.68M | -$68.72M |
YoY Change | -0.06% | 5.28% |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | $1.110M | -$21.76M |
YoY Change | -105.1% | 323.51% |
Debt Paid & Issued, Net | $198.0K | $176.0K |
YoY Change | 12.5% | -10.66% |
Cash From Financing Activities | $5.682M | $78.76M |
YoY Change | -92.79% | -50.43% |
NET CHANGE | ||
Cash From Operating Activities | $54.19M | $29.98M |
Cash From Investing Activities | -$68.68M | -$68.72M |
Cash From Financing Activities | $5.682M | $78.76M |
Net Change In Cash | -$8.801M | $40.02M |
YoY Change | -121.99% | -59.03% |
FREE CASH FLOW | ||
Cash From Operating Activities | $54.19M | $29.98M |
Capital Expenditures | -$68.50M | -$66.80M |
Free Cash Flow | $122.7M | $96.78M |
YoY Change | 26.77% | 39.52% |
Facts In Submission
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DE | |
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Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
3977000 | USD |
CY2022Q1 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
11495000 | USD |
CY2021Q1 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
10222000 | USD |
CY2022Q1 | us-gaap |
Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
|
563000 | USD |
CY2021Q1 | us-gaap |
Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
|
294000 | USD |
CY2022Q1 | us-gaap |
Interest Costs Incurred
InterestCostsIncurred
|
10932000 | USD |
CY2021Q1 | us-gaap |
Interest Costs Incurred
InterestCostsIncurred
|
9928000 | USD |
CY2022Q1 | us-gaap |
Profit Loss
ProfitLoss
|
894000 | USD |
CY2021Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-3032000 | USD |
CY2022Q1 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
-192000 | USD |
CY2021Q1 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
0 | USD |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
1086000 | USD |
CY2021Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-3032000 | USD |
CY2022Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.02 | |
CY2021Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.06 | |
CY2022Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.02 | |
CY2021Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.06 | |
CY2022Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
53731000 | shares |
CY2021Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
50440000 | shares |
CY2022Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
53775000 | shares |
CY2021Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
50440000 | shares |
CY2022Q1 | us-gaap |
Profit Loss
ProfitLoss
|
894000 | USD |
CY2021Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-3032000 | USD |
CY2022Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
29482000 | USD |
CY2021Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
27669000 | USD |
CY2022Q1 | us-gaap |
Life Insurance Corporate Or Bank Owned Change In Value
LifeInsuranceCorporateOrBankOwnedChangeInValue
|
-2918000 | USD |
CY2021Q1 | us-gaap |
Life Insurance Corporate Or Bank Owned Change In Value
LifeInsuranceCorporateOrBankOwnedChangeInValue
|
349000 | USD |
CY2022Q1 | us-gaap |
Public Utilities Allowance For Funds Used During Construction Additions
PublicUtilitiesAllowanceForFundsUsedDuringConstructionAdditions
|
975000 | USD |
CY2021Q1 | us-gaap |
Public Utilities Allowance For Funds Used During Construction Additions
PublicUtilitiesAllowanceForFundsUsedDuringConstructionAdditions
|
544000 | USD |
CY2022Q1 | us-gaap |
Increase Decrease In Receivables
IncreaseDecreaseInReceivables
|
10079000 | USD |
CY2021Q1 | us-gaap |
Increase Decrease In Receivables
IncreaseDecreaseInReceivables
|
-6265000 | USD |
CY2022Q1 | cwt |
Increase Decrease In Allowance For Credit Losses Water Arrearages Payment Program
IncreaseDecreaseInAllowanceForCreditLossesWaterArrearagesPaymentProgram
|
-20836000 | USD |
CY2021Q1 | cwt |
Increase Decrease In Allowance For Credit Losses Water Arrearages Payment Program
IncreaseDecreaseInAllowanceForCreditLossesWaterArrearagesPaymentProgram
|
0 | USD |
CY2022Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-11617000 | USD |
CY2021Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-10222000 | USD |
CY2022Q1 | us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
75000 | USD |
CY2021Q1 | us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
152000 | USD |
CY2022Q1 | us-gaap |
Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
|
12656000 | USD |
CY2021Q1 | us-gaap |
Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
|
12367000 | USD |
CY2022Q1 | us-gaap |
Increase Decrease In Other Noncurrent Assets And Liabilities Net
IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet
|
-10153000 | USD |
CY2021Q1 | us-gaap |
Increase Decrease In Other Noncurrent Assets And Liabilities Net
IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet
|
2023000 | USD |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
54193000 | USD |
CY2021Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
29979000 | USD |
CY2022Q1 | us-gaap |
Payments To Acquire Water And Waste Water Systems
PaymentsToAcquireWaterAndWasteWaterSystems
|
68496000 | USD |
CY2021Q1 | us-gaap |
Payments To Acquire Water And Waste Water Systems
PaymentsToAcquireWaterAndWasteWaterSystems
|
66817000 | USD |
CY2022Q1 | us-gaap |
Proceeds From Life Insurance Policies
ProceedsFromLifeInsurancePolicies
|
1727000 | USD |
CY2021Q1 | us-gaap |
Proceeds From Life Insurance Policies
ProceedsFromLifeInsurancePolicies
|
0 | USD |
CY2022Q1 | us-gaap |
Payments To Acquire Life Insurance Policies
PaymentsToAcquireLifeInsurancePolicies
|
1727000 | USD |
CY2021Q1 | us-gaap |
Payments To Acquire Life Insurance Policies
PaymentsToAcquireLifeInsurancePolicies
|
0 | USD |
CY2022Q1 | us-gaap |
Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
|
0 | USD |
CY2021Q1 | us-gaap |
Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
|
2900000 | USD |
CY2022Q1 | cwt |
Payments For Asset Acquisitions
PaymentsForAssetAcquisitions
|
180000 | USD |
CY2021Q1 | us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
1415000 | USD |
CY2022Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
564000 | USD |
CY2021Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
23175000 | USD |
CY2021Q1 | cwt |
Payments For Asset Acquisitions
PaymentsForAssetAcquisitions
|
0 | USD |
CY2022Q1 | us-gaap |
Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
|
0 | USD |
CY2021Q1 | us-gaap |
Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
|
1000000 | USD |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-68676000 | USD |
CY2021Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-68717000 | USD |
CY2022Q1 | us-gaap |
Proceeds From Short Term Debt
ProceedsFromShortTermDebt
|
30000000 | USD |
CY2021Q1 | us-gaap |
Proceeds From Short Term Debt
ProceedsFromShortTermDebt
|
105000000 | USD |
CY2022Q1 | us-gaap |
Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
|
15000000 | USD |
CY2021Q1 | us-gaap |
Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
|
40000000 | USD |
CY2022Q1 | us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
198000 | USD |
CY2021Q1 | us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
176000 | USD |
CY2022Q1 | cwt |
Proceeds From Contribution In Aid Of Construction Financing Activities
ProceedsFromContributionInAidOfConstructionFinancingActivities
|
7774000 | USD |
CY2021Q1 | cwt |
Proceeds From Contribution In Aid Of Construction Financing Activities
ProceedsFromContributionInAidOfConstructionFinancingActivities
|
6469000 | USD |
CY2022Q1 | us-gaap |
Repayments Of Advances For Construction
RepaymentsOfAdvancesForConstruction
|
2355000 | USD |
CY2021Q1 | us-gaap |
Repayments Of Advances For Construction
RepaymentsOfAdvancesForConstruction
|
2711000 | USD |
CY2022Q1 | us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
1674000 | USD |
CY2022Q1 | us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
13429000 | USD |
CY2021Q1 | us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
11581000 | USD |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
5682000 | USD |
CY2021Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
78761000 | USD |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-8801000 | USD |
CY2021Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
40023000 | USD |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
80653000 | USD |
CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
45129000 | USD |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
71852000 | USD |
CY2021Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
85152000 | USD |
CY2022Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
187000 | USD |
CY2021Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
1225000 | USD |
CY2022Q1 | us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
57733000 | USD |
CY2021Q1 | us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
48552000 | USD |
CY2022Q1 | us-gaap |
Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
|
5771000 | USD |
CY2021Q1 | us-gaap |
Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
|
5899000 | USD |
CY2022Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
|
2000000 | shares |
CY2022Q1 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
1 | segment |
CY2022Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
158933000 | USD |
CY2021Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
146528000 | USD |
CY2022Q1 | us-gaap |
Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
|
14060000 | USD |
CY2021Q1 | us-gaap |
Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
|
1209000 | USD |
CY2022Q1 | us-gaap |
Regulated Operating Revenue Water
RegulatedOperatingRevenueWater
|
172993000 | USD |
CY2021Q1 | us-gaap |
Regulated Operating Revenue Water
RegulatedOperatingRevenueWater
|
147737000 | USD |
CY2022Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
158933000 | USD |
CY2021Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
146528000 | USD |
CY2022Q1 | us-gaap |
Revenue Recognition Leases
RevenueRecognitionLeases
|
Lease revenue is not considered revenue from contracts with customers and is recognized following operating lease standards. The Company is the lessor in operating lease agreements with telecommunications companies under which cellular phone antennas are placed on the Company's property. | |
CY2022Q1 | us-gaap |
Financing Receivable Allowance For Credit Losses Policy For Uncollectible Amounts
FinancingReceivableAllowanceForCreditLossesPolicyForUncollectibleAmounts
|
<div style="margin-bottom:8pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Allowance for credit losses</span></div><div style="margin-bottom:8pt;margin-top:8pt;padding-left:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company measures expected credit losses for Customer Receivables, Other Receivables, and Unbilled Revenue on an aggregated level. These receivables are generally trade receivables due in one year or less or expected to be billed and collected in one year or less. The expected credit losses for Other Receivables and Unbilled Revenue are inconsequential. Customer receivables include receivables for water and wastewater services provided to residential customers, business, industrial, public authorities, and other customers. The expected credit losses for business, industrial, public authorities, and other customers are inconsequential. The overall risks related to the Company’s receivables are low as water and wastewater services are seen as essential services. The estimate for the allowance for credit losses is based on a historical loss ratio, in conjunction with a qualitative assessment of elements that impact the collectability of receivables to determine if the allowance for credit losses should be further adjusted in accordance with the accounting guidance for credit losses. Management contemplates available current information such as changes in economic factors, regulatory matters, industry trends, payment options and programs available to customers, and the methods that the Company is able to utilize to ensure payment.</span></div>The Company reviewed its allowance for credit losses utilizing a quantitative assessment, which included trend analysis of customer billing and collection, aging by customer class, and unemployment rates since the outbreak of COVID-19 in the first quarter of 2020. The Company also utilized a qualitative assessment, which considered the future collectability on customer outstanding balances, management's estimate of the cash recovery, and a general assessment of the economic conditions of the locations the Company serves due to the outbreak of COVID-19. The Company has resumed shutoffs for non-payment in New Mexico Water and Hawaii Water and plans to resume shutoffs for non-payment in Cal Water and Washington Water during the second quarter of 2022. The Company has also contemplated funds that the Company received and applied to customer accounts from the California Water and Wastewater Arrearage Payment Program (Program). The Program was created by the California Legislature, is administered by the State Water Resources Control Board and provided relief to community water and wastewater systems for unpaid bills – arrearages – related to the COVID-19 pandemic. | |
CY2022Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
68379000 | USD |
CY2021Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
78380000 | USD |
CY2022Q1 | us-gaap |
Restricted Cash Current
RestrictedCashCurrent
|
3473000 | USD |
CY2021Q4 | us-gaap |
Restricted Cash Current
RestrictedCashCurrent
|
2273000 | USD |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
71852000 | USD |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
80653000 | USD |
CY2022Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
500000 | USD |
CY2021Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
1300000 | USD |
CY2021Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
1182980000 | USD |
CY2022Q1 | us-gaap |
Profit Loss
ProfitLoss
|
894000 | USD |
CY2022Q1 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
1107000 | USD |
CY2022Q1 | us-gaap |
Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
|
1674000 | USD |
CY2022Q1 | us-gaap |
Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
|
0.2500 | |
CY2022Q1 | us-gaap |
Dividends Common Stock Cash
DividendsCommonStockCash
|
13429000 | USD |
CY2022Q1 | cwt |
Noncontrolling Interest Increase From Investment In Business
NoncontrollingInterestIncreaseFromInvestmentInBusiness
|
0 | USD |
CY2022Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
1169878000 | USD |
CY2020Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
921344000 | USD |
CY2021Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-3032000 | USD |
CY2021Q1 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
24486000 | USD |
CY2021Q1 | us-gaap |
Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
|
1415000 | USD |
CY2021Q1 | us-gaap |
Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
|
0.2300 | |
CY2021Q1 | us-gaap |
Dividends Common Stock Cash
DividendsCommonStockCash
|
11581000 | USD |
CY2021Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
929802000 | USD |
CY2022Q1 | us-gaap |
Profit Loss
ProfitLoss
|
894000 | USD |
CY2021Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-3032000 | USD |
CY2022Q1 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
-192000 | USD |
CY2021Q1 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
0 | USD |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
1086000 | USD |
CY2021Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-3032000 | USD |
CY2022Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
53731000 | shares |
CY2021Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
50440000 | shares |
CY2022Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
53775000 | shares |
CY2021Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
50440000 | shares |
CY2022Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.02 | |
CY2021Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.06 | |
CY2022Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.02 | |
CY2021Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.06 | |
CY2022Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-905000 | USD |
CY2021Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
257000 | USD |
CY2022Q1 | cwt |
Effective Income Tax Rate Reconciliation Increase Decrease Amount
EffectiveIncomeTaxRateReconciliationIncreaseDecreaseAmount
|
1200000 | USD |
CY2022Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-900000 | USD |
CY2021Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
300000 | USD |
CY2022Q1 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.12 | |
CY2021Q1 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.060 | |
CY2022Q1 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
16200000 | USD |
CY2021Q1 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
14100000 | USD |
CY2022Q1 | us-gaap |
Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
|
4100000 | USD |
CY2021Q1 | us-gaap |
Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
|
3900000 | USD |
CY2022Q1 | us-gaap |
Regulatory Assets Noncurrent
RegulatoryAssetsNoncurrent
|
291577000 | USD |
CY2021Q4 | us-gaap |
Regulatory Assets Noncurrent
RegulatoryAssetsNoncurrent
|
285692000 | USD |
CY2022Q1 | us-gaap |
Regulatory Liability Noncurrent
RegulatoryLiabilityNoncurrent
|
181827000 | USD |
CY2021Q4 | us-gaap |
Regulatory Liability Noncurrent
RegulatoryLiabilityNoncurrent
|
180428000 | USD |
CY2022Q1 | us-gaap |
Regulatory Assets Current
RegulatoryAssetsCurrent
|
68000000 | USD |
CY2021Q4 | us-gaap |
Regulatory Assets Current
RegulatoryAssetsCurrent
|
78600000 | USD |
CY2022Q1 | us-gaap |
Regulatory Liability Current
RegulatoryLiabilityCurrent
|
12000000 | USD |
CY2021Q4 | us-gaap |
Regulatory Liability Current
RegulatoryLiabilityCurrent
|
17500000 | USD |
CY2022Q1 | us-gaap |
Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
|
5400000 | USD |
CY2021Q4 | us-gaap |
Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
|
3500000 | USD |
CY2022Q1 | cwt |
Fair Value Inputs Risk Premium
FairValueInputsRiskPremium
|
0.0060 |