|
Total Revenue
|
|
$339.7m
|
$389.2m
|
$389.3m
|
$447.7m
|
$549.3m
|
$559.6m
|
$586.9m
|
$678.2m
|
$736.3m
|
$805.6m
|
|
Operating expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Income (Loss)
|
|
$93.1m
|
$98.1m
|
$73.4m
|
$57.5m
|
$117.7m
|
$111.2m
|
$131.0m
|
$149.4m
|
$170.5m
|
$177.5m
|
|
Additional Financial Items
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of Intangible Assets
|
|
$530k
|
$616k
|
$647k
|
$745k
|
$1.4m
|
$1.6m
|
$3.9m
|
$1.3m
|
$1.4m
|
$1.1m
|
|
Debt and Equity Securities, Gain (Loss)
|
|
—
|
—
|
$75k
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
|
Equity Securities, FV-NI, Realized Gain (Loss)
|
|
—
|
—
|
—
|
—
|
$0
|
—
|
—
|
—
|
—
|
—
|
|
Gains (Losses) on Sales of Investment Real Estate
|
|
—
|
—
|
—
|
—
|
—
|
$927k
|
$0
|
—
|
—
|
—
|
|
Goodwill, Impairment Loss
|
|
—
|
—
|
$18.6m
|
$15.8m
|
$0
|
$0
|
$0
|
$0
|
$0
|
$0
|
|
Operating Lease, Lease Income
|
|
—
|
—
|
—
|
—
|
—
|
$5.4m
|
$5.6m
|
$5.7m
|
$6.1m
|
$243k
|
|
Purchased water
|
|
$73.0m
|
$86.5m
|
$97.4m
|
$99.1m
|
$100.7m
|
$98.2m
|
$122.3m
|
$136.0m
|
$158.6m
|
$126.3m
|
|
Power
|
|
$6.1m
|
$7.3m
|
$6.2m
|
$7.4m
|
$13.3m
|
$13.5m
|
$8.9m
|
$9.6m
|
$11.5m
|
$21.8m
|
|
Groundwater extraction charges
|
|
$32.1m
|
$47.8m
|
$46.8m
|
$43.9m
|
$71.4m
|
$75.9m
|
$56.2m
|
$63.0m
|
$73.1m
|
$112.1m
|
|
Administrative and general
|
|
$48.0m
|
$55.0m
|
$48.9m
|
$66.3m
|
$79.7m
|
$87.3m
|
$95.4m
|
$98.7m
|
$105.8m
|
$126.0m
|
|
Maintenance
|
|
$17.5m
|
$17.4m
|
$18.4m
|
$20.5m
|
$22.2m
|
$26.0m
|
$30.7m
|
$25.7m
|
$31.3m
|
$32.9m
|
|
Property taxes and other non-income taxes
|
|
$12.1m
|
$13.6m
|
$15.0m
|
$19.1m
|
$29.9m
|
$31.0m
|
$32.6m
|
$34.5m
|
$35.9m
|
$37.7m
|
|
Depreciation and amortization
|
|
$44.6m
|
$48.3m
|
$54.6m
|
$65.6m
|
$89.3m
|
$94.4m
|
$104.4m
|
$105.9m
|
$112.9m
|
$115.3m
|
|
Other, net
|
|
$1.4m
|
$1.9m
|
$2.5m
|
$2.1m
|
$5.9m
|
$6.8m
|
$4.4m
|
$8.9m
|
$55k
|
$3.5m
|
|
Provision for income taxes
|
|
$33.5m
|
$35.4m
|
$10.1m
|
$8.5m
|
$8.4m
|
$8.4m
|
$8.5m
|
$6.0m
|
$9.0m
|
$12.4m
|
|
Unrealized (loss) gain on investment, net of taxes of $0 in 2025, $(163) in 2024 and $166 in 2023
|
|
—
|
—
|
$0
|
$117k
|
($310k)
|
$185k
|
($511k)
|
$530k
|
($442k)
|
$0
|
|
Adjustment to pension benefit plans, net of taxes of $0 in 2025, $0 in 2024 and $80 in 2023
|
|
—
|
—
|
$0
|
$9k
|
($880k)
|
$716k
|
$2.2m
|
($216k)
|
$611k
|
($493k)
|
|
Comprehensive income
|
|
$52.1m
|
$59.9m
|
$38.8m
|
$23.5m
|
$60.3m
|
$61.4m
|
$75.5m
|
$85.3m
|
$94.1m
|
$102.1m
|
|
—Basic (shares)
|
|
$20.4m
|
$20.5m
|
$21.2m
|
$28.4m
|
$28.5m
|
$29.6m
|
$30.3m
|
$31.6m
|
$32.7m
|
$35.0m
|
|
—Diluted (shares)
|
|
$20.6m
|
$20.7m
|
$21.3m
|
$28.6m
|
$28.7m
|
$29.7m
|
$30.4m
|
$31.7m
|
$32.8m
|
$35.1m
|
|
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest
|
|
$86.4m
|
$96.5m
|
$48.8m
|
$32.1m
|
$69.9m
|
$68.8m
|
$82.3m
|
$90.9m
|
$102.9m
|
$114.9m
|
|
Income before income taxes
|
|
$86.4m
|
$96.5m
|
$48.8m
|
$32.1m
|
$69.9m
|
$68.8m
|
$82.3m
|
$90.9m
|
$102.9m
|
$114.9m
|
|
Net Income (Loss) Attributable to Parent
|
|
$52.8m
|
$59.2m
|
$38.8m
|
$23.4m
|
$61.5m
|
$60.5m
|
$73.8m
|
$85.0m
|
$94.0m
|
$102.6m
|
|
Net Income (Loss) Attributable to Noncontrolling Interest
|
|
—
|
$1.9m
|
$0
|
$224k
|
$0
|
$0
|
—
|
—
|
—
|
—
|
|
Earnings Per Share, Basic
|
|
$2.59
|
$2.89
|
$1.83
|
$0.82
|
$2.16
|
$2.04
|
$2.44
|
$2.69
|
$2.87
|
$2.93
|
|
Earnings Per Share, Diluted
|
|
$2.57
|
$2.86
|
$1.82
|
$0.82
|
$2.14
|
$2.03
|
$2.43
|
$2.68
|
$2.87
|
$2.92
|
|
Weighted Average Number of Shares Outstanding, Basic
|
|
20.4m
|
20.5m
|
21.2m
|
28.4m
|
28.5m
|
29.6m
|
30.3m
|
31.6m
|
32.7m
|
35.0m
|
|
Weighted Average Number of Shares Outstanding, Diluted
|
|
20.6m
|
20.7m
|
21.3m
|
28.6m
|
28.7m
|
29.7m
|
30.4m
|
31.7m
|
32.8m
|
35.1m
|
|
General and Administrative Expense
|
|
$48.0m
|
$55.0m
|
$48.9m
|
$66.3m
|
$79.7m
|
$87.3m
|
$95.4m
|
$98.7m
|
$105.8m
|
$126.0m
|
|
Other Nonoperating Income (Expense)
|
|
$1.4m
|
$1.9m
|
$2.5m
|
$2.1m
|
$5.9m
|
$6.8m
|
$4.4m
|
$8.9m
|
$55k
|
$3.5m
|
|
Business Combination, Acquisition Related Costs
|
|
—
|
—
|
$18.6m
|
$15.8m
|
$0
|
$0
|
$0
|
$0
|
$0
|
$0
|
|
Water Production Costs
|
|
$124.3m
|
$156.8m
|
$168.7m
|
$175.8m
|
$225.8m
|
$229.1m
|
$232.8m
|
$256.2m
|
$292.0m
|
$311.2m
|
|
Other production expenses
|
|
$13.2m
|
$15.2m
|
$18.4m
|
$25.3m
|
$40.4m
|
$41.5m
|
$45.4m
|
$47.6m
|
$48.9m
|
$51.0m
|
|
Pension non-service credit (cost)
|
|
($4.3m)
|
($3.8m)
|
($2.4m)
|
($3.2m)
|
($374k)
|
$1.3m
|
$5.0m
|
($1.2m)
|
$3.8m
|
$6.4m
|
|
Interest Expense
|
|
$20.2m
|
$22.6m
|
$24.3m
|
$31.8m
|
$54.3m
|
$54.3m
|
$58.1m
|
$66.1m
|
$71.4m
|
$72.6m
|
|
Interest Expense, Debt
|
|
$20.2m
|
$22.6m
|
$24.3m
|
$31.8m
|
$54.3m
|
$54.3m
|
$58.1m
|
$66.1m
|
$71.4m
|
$72.6m
|
|
Interest on long-term debt and other interest expense
|
|
($20.2m)
|
($22.6m)
|
($24.3m)
|
($31.8m)
|
($54.3m)
|
($54.3m)
|
($58.1m)
|
($66.1m)
|
($71.4m)
|
($72.6m)
|
|
Net Periodic Defined Benefits Expense (Reversal of Expense), Excluding Service Cost Component
|
|
—
|
—
|
$2.4m
|
$3.2m
|
$374k
|
($1.3m)
|
($5.0m)
|
$1.2m
|
($3.8m)
|
($6.4m)
|
|
Total production expenses
|
|
$124.3m
|
$156.8m
|
$168.7m
|
$175.8m
|
$225.8m
|
$229.1m
|
$232.8m
|
$256.2m
|
$292.0m
|
$311.2m
|
|
Total operating expense
|
|
$246.6m
|
$291.1m
|
$324.3m
|
$363.0m
|
$446.9m
|
$462.5m
|
$489.7m
|
$520.9m
|
$577.9m
|
$623.1m
|
|
Income Tax Expense (Benefit)
|
|
$33.5m
|
$35.4m
|
$10.1m
|
$8.5m
|
$8.4m
|
$8.4m
|
$8.5m
|
$6.0m
|
$9.0m
|
$12.4m
|