v3.24.3
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Income Statement [Abstract]        
Operating revenue $ 299,563 $ 254,976 $ 814,611 $ 580,120
Operations:        
Water production costs 95,091 92,347 236,920 218,222
Administrative and general 35,453 34,216 103,091 105,177
Other operations 33,618 32,331 86,169 74,758
Maintenance 9,264 8,930 26,064 24,063
Depreciation and amortization 33,065 29,897 98,887 89,636
Income tax expense (benefit) 15,483 3,949 39,710 (1,366)
Property and other taxes 10,841 9,832 30,962 27,731
Total operating expenses 232,815 211,502 621,803 538,221
Net operating income 66,748 43,474 192,808 41,899
Other income and expenses:        
Non-regulated revenue 4,133 4,535 14,744 13,643
Non-regulated expenses (934) (5,992) (7,013) (11,224)
Other components of net periodic benefit credit 4,451 4,776 12,062 14,753
Allowance for equity funds used during construction 1,691 1,387 5,252 4,146
Income tax expense on other income and expenses (1,939) (1,063) (4,566) (4,302)
Net other income 7,402 3,643 20,479 17,016
Interest expense:        
Interest expense 14,384 13,482 45,024 39,791
Allowance for borrowed funds used during construction (788) (690) (2,358) (2,314)
Net interest expense 13,596 12,792 42,666 37,477
Net income 60,554 34,325 170,621 21,438
Net loss attributable to noncontrolling interest (126) (113) (527) (345)
Net income attributable to California Water Service Group $ 60,680 $ 34,438 $ 171,148 $ 21,783
Earnings per share:        
Basic (in dollars per share) $ 1.03 $ 0.60 $ 2.93 $ 0.38
Diluted (in dollars per share) $ 1.03 $ 0.60 $ 2.93 $ 0.38
Weighted average shares outstanding:        
Basic (in shares) 58,931 57,704 58,321 56,695
Diluted (in shares) 58,982 57,740 58,358 56,731

Source

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