California Water Service (CWT) 10-Q 25 Apr 24 2024 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2024	Apr. 22, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	1-13883
Entity Registrant Name	CALIFORNIA WATER SERVICE GROUP
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	77-0448994
Entity Address, Address Line One	1720 North First Street
Entity Address, City or Town	San Jose
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95112
City Area Code	408
Local Phone Number	367-8200
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	CWT
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		57,754,106
Entity Central Index Key	0001035201
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Utility plant:
Utility plant	$ 5,022,535	$ 4,925,483
Less accumulated depreciation and amortization	(1,174,013)	(1,152,228)
Net utility plant	3,848,522	3,773,255
Current assets:
Cash and cash equivalents	42,814	39,591
Restricted cash	45,449	45,375
Receivables:
Customers, net	51,346	59,349
Regulatory balancing accounts	56,125	64,240
Other, net	18,074	16,431
Unbilled revenue, net	28,769	36,999
Materials and supplies	16,934	16,170
Taxes, prepaid expenses, and other assets	23,615	18,130
Total current assets	283,126	296,285
Other assets:
Regulatory assets	384,501	257,621
Goodwill	37,039	37,039
Other	227,646	231,333
Total other assets	649,186	525,993
TOTAL ASSETS	4,780,834	4,595,533
Capitalization:
Common stock, $0.01 par value; 136,000 shares authorized, 57,754 and 57,724 outstanding on March 31, 2024 and December 31, 2023, respectively	578	577
Additional paid-in capital	876,894	876,583
Retained earnings	603,326	549,573
Accumulated other comprehensive loss	(13,366)	0
Noncontrolling interests	3,405	3,579
Total equity	1,470,837	1,430,312
Long-term debt, net	1,052,099	1,052,768
Total capitalization	2,522,936	2,483,080
Current liabilities:
Current maturities of long-term debt, net	1,176	672
Short-term borrowings	280,000	180,000
Accounts payable	119,839	157,305
Regulatory balancing accounts	16,644	21,540
Accrued interest	18,332	6,625
Accrued expenses and other liabilities	71,892	64,197
Total current liabilities	507,883	430,339
Deferred income taxes	369,600	352,762
Regulatory liabilities and other	809,165	760,493
Pension	83,252	82,920
Advances for construction	197,955	199,448
Contributions in aid of construction	290,043	286,491
Commitments and contingencies (Note 9)
TOTAL CAPITALIZATION AND LIABILITIES	$ 4,780,834	$ 4,595,533

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	136,000,000	136,000,000
Common stock, shares outstanding (in shares)	57,754,000	57,724,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Operating revenue	$ 270,749	$ 131,100
Operations:
Water production costs	64,185	55,008
Administrative and general	35,596	35,986
Other operations	26,925	16,604
Maintenance	8,010	7,978
Depreciation and amortization	32,844	29,915
Income tax expense (benefit)	15,538	(5,644)
Property and other taxes	9,757	8,777
Total operating expenses	192,855	148,624
Net operating income (loss)	77,894	(17,524)
Other income and expenses:
Non-regulated revenue	5,098	4,623
Non-regulated expenses	(1,954)	(2,275)
Other components of net periodic benefit credit	3,273	5,221
Allowance for equity funds used during construction	1,742	1,404
Income tax expense on other income and expenses	(1,321)	(1,794)
Net other income	6,838	7,179
Interest expense:
Interest expense	15,800	12,818
Allowance for borrowed funds used during construction	(758)	(829)
Net interest expense	15,042	11,989
Net income (loss)	69,690	(22,334)
Net loss attributable to noncontrolling interests	(227)	(123)
Net income (loss) attributable to California Water Service Group	$ 69,917	$ (22,211)
Earnings (loss) per share:
Basic (in dollars per share)	$ 1.21	$ (0.40)
Diluted (in dollars per share)	$ 1.21	$ (0.40)
Weighted average shares outstanding:
Basic (in shares)	57,733	55,666
Diluted (in shares)	57,774	55,666

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Operating activities:
Net income (loss)	$ 69,690	$ (22,334)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	33,401	30,433
Change in value of life insurance contracts	(1,667)	(1,641)
Allowance for equity funds used during construction	(1,742)	(1,404)
Changes in operating assets and liabilities:
Receivables and unbilled revenue	21,523	17,089
Accounts payable	(20,043)	(11,230)
Other current assets	(6,028)	(1,342)
Other current liabilities	17,409	10,024
Other changes in noncurrent assets and liabilities	(86,028)	1,375
Net cash provided by operating activities	26,515	20,970
Investing activities:
Utility plant expenditures	(109,806)	(81,980)
Life insurance proceeds	1,426	0
Purchase of life insurance contracts	(1,426)	0
Asset acquisitions	0	(102)
Net cash used in investing activities	(109,806)	(82,082)
Financing activities:
Short-term borrowings, net of debt issuance costs of $0 for 2024 and $1,552 for 2023	170,000	93,448
Repayment of short-term borrowings	(70,000)	(35,000)
Repayment of long-term debt	(206)	(214)
Advances and contributions in aid of construction	4,522	3,696
Refunds of advances for construction	(2,351)	(2,248)
Repurchase of common stock	(1,142)	(1,542)
Issuance of common stock	769	18,842
Dividends paid	(16,164)	(14,456)
Others	1,160	0
Net cash provided by financing activities	86,588	62,526
Change in cash, cash equivalents, and restricted cash	3,297	1,414
Cash, cash equivalents, and restricted cash at beginning of period	84,966	85,025
Cash, cash equivalents, and restricted cash at end of period	88,263	86,439
Supplemental information:
Cash paid for interest (net of amounts capitalized)	3,359	1,578
Supplemental disclosure of non-cash activities:
Accrued payables for investments in utility plant	37,498	42,038
Utility plant contribution by developers	$ 8,417	$ 7,032

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Cash Flows [Abstract]
Payments of debt issuance costs	$ 0	$ 1,552

Organization and Operations and

Organization and Operations and Basis of Presentation	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Operations and Basis of Presentation	Organization and Operations and Basis of Presentation California Water Service Group (Company) is a holding company that provides water utility and other related services in California, Washington, New Mexico, Hawaii, and Texas through its wholly-owned and non-wholly owned subsidiaries. California Water Service Company (Cal Water), Washington Water Service Company (Washington Water), New Mexico Water Service Company (New Mexico Water), and Hawaii Water Service Company, Inc. (Hawaii Water) provide regulated utility services under the rules and regulations of their respective state’s regulatory commissions (jointly referred to as the Commissions). CWS Utility Services and HWS Utility Services LLC provide non-regulated water utility and utility-related services. TWSC, Inc. (Texas Water) holds regulated and contracted wastewater utilities. The Company operates in one reportable segment, providing water and water-related utility services. Basis of Presentation The unaudited condensed consolidated interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) for interim financial information and in accordance with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X promulgated by the Securities and Exchange Commission (SEC) and therefore do not contain all of the information and footnotes required by GAAP and the SEC for annual financial statements. Interim financial information includes the Company’s accounts and those of its wholly and non-wholly owned subsidiaries. The non-wholly owned subsidiary was consolidated using the voting interest model as the Company owns a majority of the non-wholly owned subsidiary’s voting interests. The interim unaudited condensed consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements included in its Annual Report on Form 10-K for the year ended December 31, 2023 as filed with the SEC on February 29, 2024. The preparation of the Company’s unaudited condensed consolidated interim financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the balance sheet dates and the reported amounts of revenues and expenses for the periods presented. These include, but are not limited to, estimates and assumptions used in determining the Company’s regulatory asset and liability balances based upon probability assessments of regulatory recovery, utility plant useful lives, revenues earned but not yet billed, asset retirement obligations, allowance for credit losses, pension and other employee benefit plan liabilities, and income tax-related assets and liabilities. Actual results could materially differ from these estimates. In the opinion of management, the accompanying unaudited condensed consolidated interim financial statements reflect all adjustments, consisting of normal recurring transactions that are necessary to provide a fair presentation of the results for the periods covered. Due to the seasonal nature of the water business, the results for interim periods are not indicative of the results for a 12-month period. Revenue and income are generally higher in the warm, dry summer months when water usage and sales are greater. Revenue and income are generally lower in the winter months when cooler temperatures and rainfall curtail water usage and sales. Noncontrolling Interests Noncontrolling interests in the Company’s condensed consolidated financial statements represents the 7.4% interest not owned by Texas Water in a consolidated subsidiary. Texas Water obtained control over the subsidiary on May 1, 2021. Since the Company controls this subsidiary, its financial statements are consolidated with those of the Company, and the noncontrolling owner’s 7.4% share of the subsidiary’s net assets and results of operations is deducted and reported as noncontrolling interests on the Condensed Consolidated Balance Sheet and as net loss attributable to noncontrolling interests in the Condensed Consolidated Statement of Operations. The Company reports noncontrolling interests in consolidated entities as a component of equity separate from the Company’s equity. The Company’s net income (loss) attributable to California Water Service Group excludes the net loss attributable to the noncontrolling interests.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Operating Revenue The following table disaggregates the Company’s operating revenue by source for the three months ended March 31, 2024 and 2023: Three Months Ended March 31, 2024 2023 Revenue from contracts with customers $ 154,900 $ 145,225 Regulatory balancing account revenue 115,849 (14,125) Total operating revenue $ 270,749 $ 131,100 Revenue from contracts with customers The Company principally generates operating revenue from contracts with customers by providing regulated water and wastewater services at tariff-rates authorized by the Commissions in the states in which they operate and non-regulated water and wastewater services at rates authorized by contracts with government agencies. Revenue from contracts with customers reflects amounts billed for the volume of consumption at authorized per unit rates, for a service charge, and for other authorized charges. The Company satisfies its performance obligation to provide water and wastewater services over time as services are rendered. The Company applies the invoice practical expedient and recognizes revenue from contracts with customers in the amount for which the Company has a right to invoice. The Company has a right to invoice for the volume of consumption, for the service charge, and for other authorized charges. The measurement of sales to customers is generally based on the reading of their meters, which occurs on a systematic basis throughout the month. At the end of each month, the Company estimates consumption since the date of the last meter reading and the corresponding unbilled revenue is recognized. The estimate is based upon the number of unbilled days that month and the average daily customer billing rate from the previous month (which fluctuates based upon customer usage). Contract terms are generally short-term and at will by customers and, as a result, no separate financing component is recognized for the Company’s collections from customers, which generally require payment within 30 days of billing. The Company applies judgment, based principally on historical payment experience, in estimating its customers’ ability to pay. Certain customers are not billed for volumetric consumption, but are instead billed a flat rate at the beginning of each monthly service period. The amount billed is initially deferred and subsequently recognized over the monthly service period, as the performance obligation is satisfied. The deferred revenue balance or contract liability, which is included in “accrued expenses and other liabilities” on the unaudited Condensed Consolidated Balance Sheets, is inconsequential. In the following table, revenue from contracts with customers is disaggregated by class of customers for the three months ended March 31, 2024 and 2023: Three Months Ended March 31, 2024 2023 Residential $ 92,492 $ 84,035 Business 34,549 31,974 Multiple residential 16,869 14,997 Industrial 6,640 5,634 Public authorities 6,962 6,425 Other (a) (2,612) 2,160 Total revenue from contracts with customers $ 154,900 $ 145,225 (a) Other includes accrued unbilled revenue Regulatory balancing account revenue Regulatory balancing account revenue is revenue related to revenue mechanisms authorized in California by the California Public Utilities Commission (CPUC). For certain revenue mechanisms, the Company recognizes revenue when it is objectively determinable, probable of recovery and expected to be collected within 24 months following the end of the accounting period. To the extent that revenue is estimated to be collectible beyond 24 months, recognition is deferred. These mechanisms include the Monterey-Style Water Revenue Adjustment Mechanism (MWRAM) which was approved in Cal Water’s most recent General Rate Case (GRC) filing in July 2021 (2021 GRC) in March of 2024. The MWRAM tracks the difference between the revenue received for actual metered sales through the tiered volumetric rate and the revenue that would have been received with the same actual metered sales if a uniform rate had been in effect. The MWRAM is effective retroactive to January 1, 2023. In the first quarter of 2024, the Company recorded $31.1 million of revenue for the MWRAM. These mechanisms also include the Water Revenue Adjustment Mechanism (WRAM) which decoupled revenue from the volume of the sales and allowed the Company to recognize the adopted level of volumetric revenues. The variance between adopted volumetric revenues and actual billed volumetric revenues for metered accounts was recorded as regulatory balancing account revenue. The WRAM concluded on December 31, 2022; however, the Company has a net WRAM receivable balance for which the Company continues to defer revenue recognition for amounts estimated to be collected beyond 24 months following the end of the accounting period. The Company intends to apply the proceeds from the California Extended Water and Wastewater Arrearages Payment Program (Extended Program) to eligible customer WRAM balances. Regulatory balancing accounts also include revenue that is recognized for balancing and memorandum accounts when it is probable that future recovery of previously incurred costs or future refunds that are to be credited to customers will occur through the ratemaking process. As a result of the delay in the approval of the 2021 GRC, the CPUC authorized Cal Water to track the effect of the delay on customer billings in an Interim Rates Memorandum Account (IRMA) effective January 1, 2023. Variances between actual customer billings and those that would have been billed assuming the 2021 GRC had been implemented on January 1, 2023 are recorded as regulatory balancing account revenue. The 2021 GRC was approved in March of 2024 and final authorized rates have not yet been implemented as of March 31, 2024; as a result, Cal Water calculated and recorded this difference for all of 2023 and the first three months of 2024. Cal Water determined that the IRMA met regulatory asset recognition criteria under accounting standards for regulated utilities. In the first quarter of 2024, the Company recorded $80.7 million of revenue for the IRMA. Non-Regulated Revenue The following table disaggregates the Company’s non-regulated revenue by source for the three months ended March 31, 2024 and 2023: Three Months Ended March 31, 2024 2023 Operating and maintenance revenue $ 3,248 $ 3,235 Other non-regulated revenue 1,229 782 Non-regulated revenue from contracts with customers 4,477 4,017 Lease revenue 621 606 Total non-regulated revenue $ 5,098 $ 4,623 Other non-regulated revenue primarily relates to services for the design and installation of water mains and other water infrastructure for customers outside the regulated service areas and insurance program administration. 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. Allowance for Credit Losses 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 use to ensure payment. The Company reviews its allowance for credit losses utilizing a quantitative assessment, which includes a trend analysis of customer billings and collections, agings by customer class, and unemployment rates. The Company also utilizes a qualitative assessment, which considers the future collectability on customer outstanding balances, management’s estimate of the cash recovery, and a general assessment of the economic conditions in the locations the Company serves. Based on these assessments, the Company adjusts its allowance for credit losses. The Company has also taken into account $82.0 million of funds that the Company received in April of 2024 from the Extended Program for eligible customers in California (refer to Note 11, “Subsequent Events” for more details). The Extended Program was created by the California Legislature, and is administered by the State Water Resources Control Board (Water Board) and provides relief to community water and wastewater systems for unpaid bills – arrearages – related to the COVID-19 pandemic. Based on the above assessments, the Company adjusted its allowance for credit losses accordingly. The following table presents the activity in the allowance for credit losses for the three months ended March 31, 2024 and twelve months ended December 31, 2023: March 31, 2024 December 31, 2023 Beginning balance $ 2,854 $ 5,629 Provision for credit loss expense 1,052 2,480 Write-offs (1,288) (5,795) Recoveries 126 540 Total ending allowance balance $ 2,744 $ 2,854 Cash, Cash Equivalents, and Restricted Cash The following table provides a reconciliation of cash, cash equivalents, and restricted cash within the Condensed Consolidated Balance Sheets that sum to the total of the same such amounts shown on the Condensed Consolidated Statements of Cash Flows (see Note 9 for further details on restricted cash): March 31, 2024 December 31, 2023 Cash and cash equivalents $ 42,814 $ 39,591 Restricted cash 45,449 45,375 Total cash, cash equivalents, and restricted cash shown in the statements of cash flows $ 88,263 $ 84,966 Earnings (Loss) per Share Basic earnings (loss) per share of common stock is computed by dividing the net income (loss) attributable to California Water Service Group by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts were exercised or converted into common stock. Restricted Stock Awards (RSAs) are included in the common shares outstanding because the shares have all the same voting and dividend rights as issued and unrestricted common stock. New Accounting Standards and SEC Rules In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 is effective for the Company’s annual periods beginning January 1, 2024, and for interim periods beginning January 1, 2025, with early adoption permitted. The guidance requires retrospective presentation of all prior periods presented in the financial statements. The Company is currently evaluating the potential effect that the updated standard will have on its financial statement disclosures and does not expect to early adopt. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures to expand the disclosure requirements for income taxes, specifically related to the rate reconciliation and income taxes paid. ASU 2023-09 is effective for the Company's annual periods beginning January 1, 2025, with early adoption permitted. The guidance is applied prospectively with the option of retrospective application for each period presented. The Company is currently evaluating the potential effect that the updated standard will have on its financial statement disclosures and does not expect to early adopt. In March 2024, the SEC issued SEC Release No. 33-11275, The Enhancement and Standardization of Climate-Related Disclosures for Investors . The final rules enhance disclosures related to the risks and impacts of climate-related matters and, in April 2024, the SEC voluntarily stayed the new rules as a result of pending legal challenges. The new rules, if they become effective as adopted, would require various disclosures related to climate-related risks if those risks could have a material impact on the Company’s business, results of operations, or financial condition. Required disclosures would also include information about the Company’s greenhouse gas emissions, if material. In addition, the rules would require disclosure of certain climate-related financial metrics in the Company’s financial statements. The final rules, if they become effective as adopted, would be effective no earlier than the Company’s Annual Report on Form 10-K for the year ending December 31, 2025. The Company is currently evaluating the potential effect that the rules will have on its financial statement disclosures.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation . For the three months ended March 31, 2024, the Company did not grant any RSAs of common stock to Officers or to members of the Board of Directors (Directors). Generally, an RSA share represents the right to receive a share of the Company’s common stock and is valued based on the fair market value of the Company’s common stock at the date of grant. RSAs granted to Officers vest over 36 months with the first year cliff vesting. In general, RSAs granted to the Directors vest at the end of 12 months. The RSAs are recognized as expense evenly over 36 months for the shares granted to Officers and 12 months for the shares granted to the Directors. As of March 31, 2024, there was approximately $1.3 million of total unrecognized compensation cost related to RSAs. The cost is expected to be recognized over a weighted average period of 1.6 years. A summary of the status of the outstanding RSAs as of March 31, 2024 is presented below: Number of RSA Shares Weighted-Average Grant-Date Fair Value RSAs at January 1, 2024 53,303 $ 55.48 Vested (28,843) 55.23 RSAs at March 31, 2024 24,460 $ 55.78 For the three months ended March 31, 2024, the Company did not grant any performance-based Restricted Stock Units (RSUs) to Officers. Generally, a RSU represents the right to receive a share of the Company’s common stock. Each award reflects a target number of shares of common stock that may be issued to the award recipient. Whether RSUs are earned at the end of the performance period will be determined based on the achievement of certain performance objectives set by the Organization and Compensation Committee of the Board of Directors in connection with the issuance of the RSUs. The performance objectives are based on the Company’s business plan covering the performance period. Depending on the results achieved during the 3-year performance period, the actual number of shares that a grant recipient receives at the end of the performance period may range from 0% to 200% of the target shares granted, provided that the grantee is continuously employed by the Company through the vesting date. If prior to the vesting date employment is terminated by reason of death, disability or normal retirement, then a pro rata portion of this award will vest. The RSUs are recognized as expense ratably over the 3-year performance period using a fair market value of the Company’s common stock at the date of grant and an estimated number of RSUs earned during the performance period. As of March 31, 2024, there was approximately $2.0 million of total unrecognized compensation cost related to RSUs. The cost is expected to be recognized over a weighted average period of 1.5 years. A summary of the status of outstanding RSUs as of March 31, 2024 is presented below: Number of RSU Shares Weighted-Average Grant-Date Fair Value RSUs at January 1, 2024 93,078 $ 55.41 Performance criteria adjustment 13,735 53.96 Vested (36,394) 53.96 RSUs at March 31, 2024 70,419 $ 55.87

Equity

Equity	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Equity	Equity On April 29, 2022, the Company entered into an equity distribution agreement to sell shares of its common stock having an aggregate gross sales price of up to $350.0 million from time to time depending on market conditions through an at-the-market equity program over the next three years. The Company intends to use the net proceeds from these sales, after deducting commissions and offering expenses, for general corporate purposes, which may include working capital, construction and acquisition expenditures, investments and repurchases, and redemptions of securities. The Company did not utilize its at-the-market equity program during the three months ended March 31, 2024. During the three months ended March 31, 2023, the Company sold 326,042 shares of common stock through its at-the-market equity program and raised proceeds of $18.2 million, net of $0.2 million in sales commissions. The Company’s changes in total equity for the three months ended March 31, 2024 and 2023 were as follows: Three Months Ended March 31, 2024 Common Stock Additional Retained Accumulated Other Comprehensive Loss Noncontrolling Interests Total Equity Shares Amount (In thousands) Balance at January 1, 2024 57,724 $ 577 $ 876,583 $ 549,573 $ — $ 3,579 $ 1,430,312 Net income — — — 69,917 — (227) 69,690 Issuance of common stock 55 1 1,506 — — — 1,507 Repurchase of common stock (25) — (1,142) — — — (1,142) Dividends paid on common stock ($0.2800 per share) — — — (16,164) — — (16,164) Adjustment for unrecoverable pension benefit plan costs — — — — (13,663) — (13,663) Amounts reclassified to earnings (a) — — — — 297 — 297 Investment in business with noncontrolling interest — — (53) — — 53 — Balance at March 31, 2024 57,754 578 876,894 603,326 (13,366) 3,405 1,470,837 (a) This accumulated other comprehensive loss component is included in the computation of net periodic costs for the Company’s supplemental executive retirement plan (SERP), specifically the following components: amortization of unrecognized (gain) loss and amortization of prior service credit. Three Months Ended March 31, 2023 Common Stock Additional Retained Noncontrolling Interests Total Equity Shares Amount (In thousands) Balance at January 1, 2023 55,598 $ 556 $ 760,336 $ 556,698 $ 4,804 $ 1,322,394 Net loss — — — (22,211) (123) (22,334) Issuance of common stock 420 4 17,380 — — 17,384 Repurchase of common stock (27) — — — — — Dividends paid on common stock ($0.2600 per share) — — — (14,456) — (14,456) Investment in business with noncontrolling interest — — (111) — 111 — Balance at March 31, 2023 55,991 560 777,605 520,031 4,792 1,302,988 In Cal Water’s 2021 GRC decision that was issued in March of 2024, SERP expenses were not approved to be recovered from customers for the years 2023, 2024 and 2025. Without regulatory recovery, Cal Water no longer meets the regulatory asset recognition criteria to record the unrecognized prior service costs and actuarial gain and loss amounts related to the SERP as a regulatory asset. The Company has applied compensation recognition guidance and recorded the unrecognized prior service costs and actuarial gains and losses to accumulated other comprehensive loss. As of March 31, 2024, the Company reclassified $13.7 million to accumulated other comprehensive loss, which is Cal Water’s cumulative portion of the regulatory asset.

Pension Plan and Other Postreti

Pension Plan and Other Postretirement Benefits	3 Months Ended
	Mar. 31, 2024
Retirement Benefits [Abstract]
Pension Plan and Other Postretirement Benefits	Pension Plan and Other Postretirement Benefits The Company provides a qualified, defined-benefit, non-contributory pension plan for substantially all its employees. The Company makes annual contributions to fund amounts accrued for the qualified pension plan. The Company also maintains an unfunded, non-qualified SERP. The costs of the plans are charged to expense or are capitalized in utility plant as appropriate. The Company offers medical, dental, vision, and life insurance benefits for retirees and their spouses and dependents. Participants are required to pay a premium, which offsets a portion of the cost. No cash contributions were made by the Company to the pension plans nor the other postretirement benefit plans for the three months ended March 31, 2024. The Company made cash contributions of $2.9 million and $0.2 million, respectively, to the pension plans and other postretirement benefit plan for the three months ended March 31, 2023. The Company estimates in 2024 that the annual contribution to the pension plans will be $0.7 million and the annual contribution to the other postretirement plan will be $0.2 million. The following table lists components of net periodic benefit costs for the pension plans and other postretirement benefits. The data listed under “pension plan” includes the qualified pension plan and the non-qualified SERP. The data listed under “other benefits” is for all other postretirement benefits. Three Months Ended March 31, Pension Plan Other Benefits 2024 2023 2024 2023 Service cost $ 5,648 $ 6,046 $ 1,520 $ 1,126 Interest cost 8,881 8,746 1,684 1,297 Expected return on plan assets (13,236) (13,421) (2,987) (2,636) Amortization of prior service cost 131 131 39 39 Recognized net actuarial (gain) loss 189 (637) (198) (581) Net periodic benefit cost (credit) $ 1,613 $ 865 $ 58 $ (755) Service cost portion of the pension plan and other postretirement benefits is recognized in administrative and general expenses within the Condensed Consolidated Statements of Operations. Other components of net periodic benefit costs include interest costs, expected return on plan assets, amortization of prior service costs, and recognized net actuarial loss and are reported together as other components of net periodic benefit cost within the Condensed Consolidated Statements of Operations.

Short-term and Long-term Borrow

Short-term and Long-term Borrowings	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Short-term and Long-term Borrowings	Short-term and Long-term Borrowings On March 31, 2023, the Company and Cal Water entered into syndicated credit agreements, which provide for unsecured revolving credit facilities of up to an initial aggregate amount of $600.0 million for a term of five years. The Company and subsidiaries that it designates may borrow up to $200.0 million under the Company’s revolving credit facility (the Company facility). Cal Water may borrow up to $400.0 million under its revolving credit facility (the Cal Water facility). Additionally, the credit facilities may be increased by up to an incremental $150.0 million under the Cal Water facility and $50.0 million under the Company facility, subject in each case to certain conditions. At the Company’s or Cal Water’s option, as applicable, borrowings under the Company and Cal Water facilities, as applicable, will bear interest annually at a rate equal to (i) the base rate, plus an applicable margin of 0.00% to 0.250%, depending on the Company and its subsidiaries’ consolidated total capitalization ratio, or (ii) Term SOFR, plus an applicable margin of 0.800% to 1.250%, depending on the Company and its subsidiaries’ consolidated total capitalization ratio. The Company and Cal Water facilities contain affirmative and negative covenants and events of default customary for credit facilities of this type including, among other things, limitations and prohibitions relating to additional indebtedness, liens, mergers, and asset sales. Also, the Company and Cal Water facilities contain financial covenants governing the Company and its subsidiaries’ consolidated total capitalization ratio and interest coverage ratio. As of March 31, 2024, the Company and Cal Water are in compliance with all of the covenant requirements and are eligible to use the full amount of the undrawn portion of the Company and Cal Water facilities, as applicable. Borrowings on the Company lines of credit as of March 31, 2024 and December 31, 2023 were $65.0 million and $50.0 million, respectively. Outstanding borrowings on the Cal Water lines of credit as of March 31, 2024 and December 31, 2023 were $215.0 million and $130.0 million, respectively. The average borrowing rate for borrowings on the Company and Cal Water lines of credit during the three months ended March 31, 2024 was 6.38% compared to 5.49% for the same period last year.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company adjusts its effective tax rate each quarter to be consistent with the estimated annual effective tax rate. The Company also records the tax effect of unusual or infrequently occurring discrete items. The provision for income taxes is shown in the tables below: Three Months Ended March 31, 2024 2023 Income tax (benefit) expense $ 16,859 $ (3,850) Income tax expense increased $20.7 million to $16.9 million for the three months ended March 31, 2024 as compared to $3.9 million tax benefit for the three months ended March 31, 2023, primarily due to an increase in pre-tax operating income in the first three months ended March 31, 2024 as compared to 2023. The increase in income tax expense was primarily due to the recognition of income related to the 2021 GRC decision. The Company’s effective tax rate was 19.6% and 14.6% before discrete items as of March 31, 2024 and March 31, 2023. The increase in the effective tax rate was primarily due to the recognition of the 2021 GRC. The Company had unrecognized tax benefits of approximately $16.6 million and $14.0 million as of March 31, 2024 and 2023, respectively. Included in the balance of unrecognized tax benefits as of March 31, 2024 and 2023, is $5.0 million and $4.5 million, respectively, of tax benefits that, if recognized, would result in an adjustment to the Company’s effective tax rate. The Company does not expect its unrecognized tax benefits to change significantly within the next 12 months.

Regulatory Assets and Liabiliti

Regulatory Assets and Liabilities	3 Months Ended
	Mar. 31, 2024
Regulated Operations [Abstract]
Regulatory Assets and Liabilities	Regulatory Assets and Liabilities Regulatory assets and liabilities were comprised of the following as of March 31, 2024 and December 31, 2023: Recovery Period March 31, 2024 December 31, 2023 Regulatory Assets Property-related temporary differences (tax benefits flowed through to customers) Indefinite 158,486 158,486 Other accrued benefits Indefinite 26,975 25,363 Net WRAM and Modified Cost Balancing Account (MCBA) long-term accounts receivable Various 10,490 10,738 Asset retirement obligations, net Indefinite 27,495 26,686 IRMA long-term accounts receivable 1 - 2 years 84,593 3,430 MWRAM 1 year 31,066 — Tank coating Various 20,112 19,602 Recoverable property losses Various 2,956 3,121 Pension Cost Balancing Account (PCBA) Various 4,314 4,182 Customer assistance program (CAP) and Rate support fund (RSF) accounts receivable 1 year 10,787 2,459 Other regulatory assets Various 7,227 3,554 Total Regulatory Assets $ 384,501 $ 257,621 Regulatory Liabilities Cost of removal $ 456,471 $ 447,356 Future tax benefits due to customers 118,051 118,051 Pension and retiree group health 102,255 88,728 Incremental cost balancing account (ICBA) 10,795 — IRMA long-term regulatory liability 6,993 — Health Cost Balancing Account (HCBA) 4,291 3,242 PCBA 11,220 8,972 Conservation Expense Balancing Account 1,324 1,200 Net WRAM and MCBA long-term payable 3,082 2,071 Other components of net periodic benefit cost 13,300 10,348 RSF regulatory liability — 2,116 Other regulatory liabilities 2,122 1,633 Total Regulatory Liabilities $ 729,904 $ 683,717 The IRMA regulatory asset increase was for the additional amount the Company would have billed customers in 2023 and the first quarter of 2024 had the 2021 GRC been approved on time. The IRMA regulatory liability represents additional CAP and RSF credits the Company would have provided to customers in 2023 and the first quarter of 2024 had the 2021 GRC been approved on time. The MWRAM regulatory asset represents the difference between the revenue received for actual metered sales through the tiered volumetric rate and the revenue that would have been received with the same actual metered sales if a uniform rate had been in effect. The ICBA tracks differences between the authorized prices of water production costs and actual prices of water production costs. In the first quarter of 2024, the Company recorded a regulatory liability for certain service territories of $10.8 million as the authorized water production costs were higher than actual water production costs. The Company also recorded a regulatory asset for certain service territories of $1.6 million as the authorized water production costs were lower than actual water production costs. The ICBA regulatory asset is part of “Other regulatory assets” in the table above. Short-term regulatory assets and liabilities are excluded from the above table. The short-term regulatory assets were $56.1 million as of March 31, 2024 and $64.2 million as of December 31, 2023. The short-term regulatory assets as of March 31, 2024 and December 31, 2023, primarily consisted of net WRAM and MCBA, and PCBA receivables and are included in current assets as part of regulatory balancing accounts on the Condensed Consolidated Balance Sheets. The short-term portion of regulatory liabilities were $16.6 million as of March 31, 2024 and $21.5 million as of December 31, 2023. The short-term regulatory liabilities as of March 31, 2024 and December 31, 2023, primarily consisted of Tax Cuts and Jobs Act regulatory liabilities and HCBA liabilities and are included in current liabilities as part of regulatory balancing accounts on the Condensed Consolidated Balance Sheets.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments The Company has long-term commitments to purchase water from water wholesalers. The Company also has operating and finance leases for water systems, offices, land easements, licenses, equipment, and other facilities. These commitments and leases are described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. On August 16, 2022, BVRT Utility Holding Company (BVRT), a majority owned subsidiary of Texas Water, entered into a long-term water supply agreement with the Guadalupe Blanco River Authority (GBRA) through its wholly owned subsidiary, Camino Real Utility (Camino Real). The Company has provided a limited guarantee to GBRA for agreed upon obligations. GBRA is a water conservation and reclamation district established by the Texas Legislature that oversees water resources for 10 counties. Under the terms of the agreement with GBRA, Camino Real is contracted to receive up to 2,419 acre-feet of potable water annually. The GBRA agreement involves four off-takers, including Camino Real, and GBRA plans to extend a potable water pipeline from the City of Lockhart to the City of Mustang Ridge and surrounding areas. Camino Real is contracted to be the utility service provider in this area of the Austin metropolitan region and to provide potable water, recycled water, and wastewater services to portions of the City of Mustang Ridge and surrounding areas. In 2022, Camino Real committed $21.5 million for its share of the cost of the pipeline project. In 2023, Camino Real committed an additional $22.3 million for its share of the cost of the pipeline project. As of March 31, 2024, this committed cash has not been transferred to GBRA and is classified as part of restricted cash on the Condensed Consolidated Balance Sheets. The Company currently expects the committed cash to be transferred to GBRA before the end of 2024. Contingencies Groundwater Contamination The Company has undertaken litigation against third parties to recover past and future costs related to groundwater contamination in our service areas. The cost of litigation is generally expensed as incurred and any settlement is first offset against such costs. The CPUC’s general policy requires all proceeds from contamination litigation to be used first to pay transactional expenses, then to make customers whole for water treatment costs to comply with the CPUC’s water quality standards. The CPUC allows for a risk-based consideration of contamination proceeds which exceed the costs of the remediation described above and may result in some sharing of proceeds with the shareholder, determined on a case-by-case basis. The CPUC has authorized various memorandum accounts that allow the Company to track significant litigation costs and to request recovery of these costs in future filings and uses of proceeds to comply with CPUC’s general policy. Other Legal Matters From time to time, the Company is involved in various disputes and litigation matters that arise in the ordinary course of business. The status of each significant matter is reviewed and assessed for potential financial exposure. If the potential loss from any claim or legal proceeding is considered probable and the amount of the range of loss can be estimated, a liability is accrued for the estimated loss in accordance with the accounting standards for contingencies. Legal proceedings are subject to uncertainties, and the outcomes are difficult to predict. Because of such uncertainties, accruals are based on the best information available at the time. While the outcome of these disputes and litigation matters cannot be predicted with any certainty, management does not believe when taking into account existing reserves the ultimate resolution of these matters will materially affect the Company’s financial position, results of operations, or cash flows. As of March 31, 2024 and December 31, 2023, the Company recognized a liability of $6.9 million and $6.0 million, respectively, primarily due to potable water main leaks and other work related legal matters. The cost of litigation is expensed as incurred and any settlement is first offset against such costs. Any settlement in excess of the cost to litigate is accounted for on a case-by-case basis, dependent on the nature of the settlement.

Fair Value of Financial Assets

Fair Value of Financial Assets and Liabilities	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value of Financial Assets and Liabilities	Fair Value of Financial Assets and Liabilities The accounting guidance for fair value measurements and disclosures provides a single definition of fair value and requires certain disclosures about assets and liabilities measured at fair value. A hierarchical framework for disclosing the observability of the inputs utilized in measuring assets and liabilities at fair value is established by this guidance. The three levels in the hierarchy are as follows: Level 1—Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Company has the ability to access. Level 2—Inputs to the valuation methodology include: • Quoted market prices for similar assets or liabilities in active markets; • Quoted prices for identical or similar assets or liabilities in inactive markets; • Inputs other than quoted prices that are observable for the asset or liability; and • Inputs that are derived principally from or corroborated by observable market data by correlation or other means. If the asset or liability has a specified (contractual) term, the level 2 input must be observable for substantially the full term of the asset or liability. Level 3—Inputs to the valuation methodology are unobservable and significant to the fair value measurement. Specific valuation methods include the following: Cash, accounts receivable, short-term borrowings, and accounts payable carrying amounts approximated the fair value because of the short-term maturity of the instruments. Pension and other postretirement benefit plan assets are measured at either net asset value or level 1 depending on the investment. Long-term debt fair values were estimated using the published quoted market price, if available, or the discounted cash flow analysis, based on the current rates available using a risk-free rate (a U.S. Treasury securities yield curve) plus a risk premium of 0.60%. March 31, 2024 Fair Value Cost Level 1 Level 2 Level 3 Total Long-term debt, including current maturities, net $ 1,053,275 $ — $ 939,102 $ — $ 939,102 December 31, 2023 Fair Value Cost Level 1 Level 2 Level 3 Total Long-term debt, including current maturities, net $ 1,053,440 $ — $ 965,444 $ — $ 965,444

Subsequent Event

Subsequent Event	3 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event California Extended Water and Wastewater Arrearages Payment Program The California Water and Wastewater Arrearages Payment Program was created by the California Legislature to be administered by the Water Board in order to provide relief to community water and wastewater systems for unpaid bills (arrearages) related to the COVID-19 pandemic. In 2023, the Extended Program was established and extended the relief period to include arrearages accrued from June 16, 2021 to December 31, 2022. In response to the Extended Program, Cal Water submitted an application for $82.0 million in eligible customer arrearages and $1.0 million in program administrative costs which was approved by the Water Board. Cal Water received the funds in April of 2024 and intends to apply the funds to identified eligible past due customer balances during the second quarter of 2024.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 69,917	$ (22,211)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The unaudited condensed consolidated interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) for interim financial information and in accordance with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X promulgated by the Securities and Exchange Commission (SEC) and therefore do not contain all of the information and footnotes required by GAAP and the SEC for annual financial statements. Interim financial information includes the Company’s accounts and those of its wholly and non-wholly owned subsidiaries. The non-wholly owned subsidiary was consolidated using the voting interest model as the Company owns a majority of the non-wholly owned subsidiary’s voting interests. The interim unaudited condensed consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements included in its Annual Report on Form 10-K for the year ended December 31, 2023 as filed with the SEC on February 29, 2024. The preparation of the Company’s unaudited condensed consolidated interim financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the balance sheet dates and the reported amounts of revenues and expenses for the periods presented. These include, but are not limited to, estimates and assumptions used in determining the Company’s regulatory asset and liability balances based upon probability assessments of regulatory recovery, utility plant useful lives, revenues earned but not yet billed, asset retirement obligations, allowance for credit losses, pension and other employee benefit plan liabilities, and income tax-related assets and liabilities. Actual results could materially differ from these estimates. In the opinion of management, the accompanying unaudited condensed consolidated interim financial statements reflect all adjustments, consisting of normal recurring transactions that are necessary to provide a fair presentation of the results for the periods covered. Due to the seasonal nature of the water business, the results for interim periods are not indicative of the results for a 12-month period. Revenue and income are generally higher in the warm, dry summer months when water usage and sales are greater. Revenue and income are generally lower in the winter months when cooler temperatures and rainfall curtail water usage and sales.
Revenue	Revenue from contracts with customers The Company principally generates operating revenue from contracts with customers by providing regulated water and wastewater services at tariff-rates authorized by the Commissions in the states in which they operate and non-regulated water and wastewater services at rates authorized by contracts with government agencies. Revenue from contracts with customers reflects amounts billed for the volume of consumption at authorized per unit rates, for a service charge, and for other authorized charges. The Company satisfies its performance obligation to provide water and wastewater services over time as services are rendered. The Company applies the invoice practical expedient and recognizes revenue from contracts with customers in the amount for which the Company has a right to invoice. The Company has a right to invoice for the volume of consumption, for the service charge, and for other authorized charges. The measurement of sales to customers is generally based on the reading of their meters, which occurs on a systematic basis throughout the month. At the end of each month, the Company estimates consumption since the date of the last meter reading and the corresponding unbilled revenue is recognized. The estimate is based upon the number of unbilled days that month and the average daily customer billing rate from the previous month (which fluctuates based upon customer usage). Contract terms are generally short-term and at will by customers and, as a result, no separate financing component is recognized for the Company’s collections from customers, which generally require payment within 30 days of billing. The Company applies judgment, based principally on historical payment experience, in estimating its customers’ ability to pay. Certain customers are not billed for volumetric consumption, but are instead billed a flat rate at the beginning of each monthly service period. The amount billed is initially deferred and subsequently recognized over the monthly service period, as the performance obligation is satisfied. The deferred revenue balance or contract liability, which is included in “accrued expenses and other liabilities” on the unaudited Condensed Consolidated Balance Sheets, is inconsequential. In the following table, revenue from contracts with customers is disaggregated by class of customers for the three months ended March 31, 2024 and 2023: Three Months Ended March 31, 2024 2023 Residential $ 92,492 $ 84,035 Business 34,549 31,974 Multiple residential 16,869 14,997 Industrial 6,640 5,634 Public authorities 6,962 6,425 Other (a) (2,612) 2,160 Total revenue from contracts with customers $ 154,900 $ 145,225 (a) Other includes accrued unbilled revenue Regulatory balancing account revenue Regulatory balancing account revenue is revenue related to revenue mechanisms authorized in California by the California Public Utilities Commission (CPUC). For certain revenue mechanisms, the Company recognizes revenue when it is objectively determinable, probable of recovery and expected to be collected within 24 months following the end of the accounting period. To the extent that revenue is estimated to be collectible beyond 24 months, recognition is deferred. These mechanisms include the Monterey-Style Water Revenue Adjustment Mechanism (MWRAM) which was approved in Cal Water’s most recent General Rate Case (GRC) filing in July 2021 (2021 GRC) in March of 2024. The MWRAM tracks the difference between the revenue received for actual metered sales through the tiered volumetric rate and the revenue that would have been received with the same actual metered sales if a uniform rate had been in effect. The MWRAM is effective retroactive to January 1, 2023. In the first quarter of 2024, the Company recorded $31.1 million of revenue for the MWRAM. These mechanisms also include the Water Revenue Adjustment Mechanism (WRAM) which decoupled revenue from the volume of the sales and allowed the Company to recognize the adopted level of volumetric revenues. The variance between adopted volumetric revenues and actual billed volumetric revenues for metered accounts was recorded as regulatory balancing account revenue. The WRAM concluded on December 31, 2022; however, the Company has a net WRAM receivable balance for which the Company continues to defer revenue recognition for amounts estimated to be collected beyond 24 months following the end of the accounting period. The Company intends to apply the proceeds from the California Extended Water and Wastewater Arrearages Payment Program (Extended Program) to eligible customer WRAM balances.
Non-Regulated Revenue	Non-Regulated Revenue The following table disaggregates the Company’s non-regulated revenue by source for the three months ended March 31, 2024 and 2023: Three Months Ended March 31, 2024 2023 Operating and maintenance revenue $ 3,248 $ 3,235 Other non-regulated revenue 1,229 782 Non-regulated revenue from contracts with customers 4,477 4,017 Lease revenue 621 606 Total non-regulated revenue $ 5,098 $ 4,623
Lease revenue	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.
Allowance for Credit Losses	Allowance for Credit Losses 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 use to ensure payment. The Company reviews its allowance for credit losses utilizing a quantitative assessment, which includes a trend analysis of customer billings and collections, agings by customer class, and unemployment rates. The Company also utilizes a qualitative assessment, which considers the future collectability on customer outstanding balances, management’s estimate of the cash recovery, and a general assessment of the economic conditions in the locations the Company serves. Based on these assessments, the Company adjusts its allowance for credit losses. The Company has also taken into account $82.0 million of funds that the Company received in April of 2024 from the Extended Program for eligible customers in California (refer to Note 11, “Subsequent Events” for more details). The Extended Program was created by the California Legislature, and is administered by the State Water Resources Control Board (Water Board) and provides relief to community water and wastewater systems for unpaid bills – arrearages – related to the COVID-19 pandemic. Based on the above assessments, the Company adjusted its allowance for credit losses accordingly.
Earnings (Loss) per Share	Earnings (Loss) per Share Basic earnings (loss) per share of common stock is computed by dividing the net income (loss) attributable to California Water Service Group by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts were exercised or converted into common stock. Restricted Stock Awards (RSAs) are included in the common shares outstanding because the shares have all the same voting and dividend rights as issued and unrestricted common stock.
New Accounting Standards and SEC Rules	New Accounting Standards and SEC Rules In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 is effective for the Company’s annual periods beginning January 1, 2024, and for interim periods beginning January 1, 2025, with early adoption permitted. The guidance requires retrospective presentation of all prior periods presented in the financial statements. The Company is currently evaluating the potential effect that the updated standard will have on its financial statement disclosures and does not expect to early adopt. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures to expand the disclosure requirements for income taxes, specifically related to the rate reconciliation and income taxes paid. ASU 2023-09 is effective for the Company's annual periods beginning January 1, 2025, with early adoption permitted. The guidance is applied prospectively with the option of retrospective application for each period presented. The Company is currently evaluating the potential effect that the updated standard will have on its financial statement disclosures and does not expect to early adopt. In March 2024, the SEC issued SEC Release No. 33-11275, The Enhancement and Standardization of Climate-Related Disclosures for Investors . The final rules enhance disclosures related to the risks and impacts of climate-related matters and, in April 2024, the SEC voluntarily stayed the new rules as a result of pending legal challenges. The new rules, if they become effective as adopted, would require various disclosures related to climate-related risks if those risks could have a material impact on the Company’s business, results of operations, or financial condition. Required disclosures would also include information about the Company’s greenhouse gas emissions, if material. In addition, the rules would require disclosure of certain climate-related financial metrics in the Company’s financial statements. The final rules, if they become effective as adopted, would be effective no earlier than the Company’s Annual Report on Form 10-K for the year ending December 31, 2025. The Company is currently evaluating the potential effect that the rules will have on its financial statement disclosures.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Disaggregation of Revenue	The following table disaggregates the Company’s operating revenue by source for the three months ended March 31, 2024 and 2023: Three Months Ended March 31, 2024 2023 Revenue from contracts with customers $ 154,900 $ 145,225 Regulatory balancing account revenue 115,849 (14,125) Total operating revenue $ 270,749 $ 131,100 In the following table, revenue from contracts with customers is disaggregated by class of customers for the three months ended March 31, 2024 and 2023: Three Months Ended March 31, 2024 2023 Residential $ 92,492 $ 84,035 Business 34,549 31,974 Multiple residential 16,869 14,997 Industrial 6,640 5,634 Public authorities 6,962 6,425 Other (a) (2,612) 2,160 Total revenue from contracts with customers $ 154,900 $ 145,225 (a) Other includes accrued unbilled revenue The following table disaggregates the Company’s non-regulated revenue by source for the three months ended March 31, 2024 and 2023: Three Months Ended March 31, 2024 2023 Operating and maintenance revenue $ 3,248 $ 3,235 Other non-regulated revenue 1,229 782 Non-regulated revenue from contracts with customers 4,477 4,017 Lease revenue 621 606 Total non-regulated revenue $ 5,098 $ 4,623
Schedule of Allowance for Credit Losses	The following table presents the activity in the allowance for credit losses for the three months ended March 31, 2024 and twelve months ended December 31, 2023: March 31, 2024 December 31, 2023 Beginning balance $ 2,854 $ 5,629 Provision for credit loss expense 1,052 2,480 Write-offs (1,288) (5,795) Recoveries 126 540 Total ending allowance balance $ 2,744 $ 2,854
Schedule of Cash and Cash Equivalents	The following table provides a reconciliation of cash, cash equivalents, and restricted cash within the Condensed Consolidated Balance Sheets that sum to the total of the same such amounts shown on the Condensed Consolidated Statements of Cash Flows (see Note 9 for further details on restricted cash): March 31, 2024 December 31, 2023 Cash and cash equivalents $ 42,814 $ 39,591 Restricted cash 45,449 45,375 Total cash, cash equivalents, and restricted cash shown in the statements of cash flows $ 88,263 $ 84,966

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Restricted Stock and Restricted Stock Unit Activity	A summary of the status of the outstanding RSAs as of March 31, 2024 is presented below: Number of RSA Shares Weighted-Average Grant-Date Fair Value RSAs at January 1, 2024 53,303 $ 55.48 Vested (28,843) 55.23 RSAs at March 31, 2024 24,460 $ 55.78 A summary of the status of outstanding RSUs as of March 31, 2024 is presented below: Number of RSU Shares Weighted-Average Grant-Date Fair Value RSUs at January 1, 2024 93,078 $ 55.41 Performance criteria adjustment 13,735 53.96 Vested (36,394) 53.96 RSUs at March 31, 2024 70,419 $ 55.87

Equity (Tables)

Equity (Tables)	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Schedule of Changes in Total Common Stockholders' Equity	The Company’s changes in total equity for the three months ended March 31, 2024 and 2023 were as follows: Three Months Ended March 31, 2024 Common Stock Additional Retained Accumulated Other Comprehensive Loss Noncontrolling Interests Total Equity Shares Amount (In thousands) Balance at January 1, 2024 57,724 $ 577 $ 876,583 $ 549,573 $ — $ 3,579 $ 1,430,312 Net income — — — 69,917 — (227) 69,690 Issuance of common stock 55 1 1,506 — — — 1,507 Repurchase of common stock (25) — (1,142) — — — (1,142) Dividends paid on common stock ($0.2800 per share) — — — (16,164) — — (16,164) Adjustment for unrecoverable pension benefit plan costs — — — — (13,663) — (13,663) Amounts reclassified to earnings (a) — — — — 297 — 297 Investment in business with noncontrolling interest — — (53) — — 53 — Balance at March 31, 2024 57,754 578 876,894 603,326 (13,366) 3,405 1,470,837 (a) This accumulated other comprehensive loss component is included in the computation of net periodic costs for the Company’s supplemental executive retirement plan (SERP), specifically the following components: amortization of unrecognized (gain) loss and amortization of prior service credit. Three Months Ended March 31, 2023 Common Stock Additional Retained Noncontrolling Interests Total Equity Shares Amount (In thousands) Balance at January 1, 2023 55,598 $ 556 $ 760,336 $ 556,698 $ 4,804 $ 1,322,394 Net loss — — — (22,211) (123) (22,334) Issuance of common stock 420 4 17,380 — — 17,384 Repurchase of common stock (27) — — — — — Dividends paid on common stock ($0.2600 per share) — — — (14,456) — (14,456) Investment in business with noncontrolling interest — — (111) — 111 — Balance at March 31, 2023 55,991 560 777,605 520,031 4,792 1,302,988

Pension Plan and Other Postre_2

Pension Plan and Other Postretirement Benefits (Tables)	3 Months Ended
	Mar. 31, 2024
Retirement Benefits [Abstract]
Schedule of components of net periodic benefit costs for the pension plans and other postretirement benefits	The following table lists components of net periodic benefit costs for the pension plans and other postretirement benefits. The data listed under “pension plan” includes the qualified pension plan and the non-qualified SERP. The data listed under “other benefits” is for all other postretirement benefits. Three Months Ended March 31, Pension Plan Other Benefits 2024 2023 2024 2023 Service cost $ 5,648 $ 6,046 $ 1,520 $ 1,126 Interest cost 8,881 8,746 1,684 1,297 Expected return on plan assets (13,236) (13,421) (2,987) (2,636) Amortization of prior service cost 131 131 39 39 Recognized net actuarial (gain) loss 189 (637) (198) (581) Net periodic benefit cost (credit) $ 1,613 $ 865 $ 58 $ (755)

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	The provision for income taxes is shown in the tables below: Three Months Ended March 31, 2024 2023 Income tax (benefit) expense $ 16,859 $ (3,850)

Regulatory Assets and Liabili_2

Regulatory Assets and Liabilities (Tables)	3 Months Ended
	Mar. 31, 2024
Regulated Operations [Abstract]
Schedule of Regulatory Assets and Liabilities	Regulatory assets and liabilities were comprised of the following as of March 31, 2024 and December 31, 2023: Recovery Period March 31, 2024 December 31, 2023 Regulatory Assets Property-related temporary differences (tax benefits flowed through to customers) Indefinite 158,486 158,486 Other accrued benefits Indefinite 26,975 25,363 Net WRAM and Modified Cost Balancing Account (MCBA) long-term accounts receivable Various 10,490 10,738 Asset retirement obligations, net Indefinite 27,495 26,686 IRMA long-term accounts receivable 1 - 2 years 84,593 3,430 MWRAM 1 year 31,066 — Tank coating Various 20,112 19,602 Recoverable property losses Various 2,956 3,121 Pension Cost Balancing Account (PCBA) Various 4,314 4,182 Customer assistance program (CAP) and Rate support fund (RSF) accounts receivable 1 year 10,787 2,459 Other regulatory assets Various 7,227 3,554 Total Regulatory Assets $ 384,501 $ 257,621 Regulatory Liabilities Cost of removal $ 456,471 $ 447,356 Future tax benefits due to customers 118,051 118,051 Pension and retiree group health 102,255 88,728 Incremental cost balancing account (ICBA) 10,795 — IRMA long-term regulatory liability 6,993 — Health Cost Balancing Account (HCBA) 4,291 3,242 PCBA 11,220 8,972 Conservation Expense Balancing Account 1,324 1,200 Net WRAM and MCBA long-term payable 3,082 2,071 Other components of net periodic benefit cost 13,300 10,348 RSF regulatory liability — 2,116 Other regulatory liabilities 2,122 1,633 Total Regulatory Liabilities $ 729,904 $ 683,717

Fair Value of Financial Asset_2

Fair Value of Financial Assets and Liabilities (Tables)	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Long-term Debt	March 31, 2024 Fair Value Cost Level 1 Level 2 Level 3 Total Long-term debt, including current maturities, net $ 1,053,275 $ — $ 939,102 $ — $ 939,102 December 31, 2023 Fair Value Cost Level 1 Level 2 Level 3 Total Long-term debt, including current maturities, net $ 1,053,440 $ — $ 965,444 $ — $ 965,444

Organization and Operations a_2

Organization and Operations and Basis of Presentation (Details)	3 Months Ended
	Mar. 31, 2024 segment
Noncontrolling Interest [Line Items]
Number of reportable segments	1
BVRT Water Company
Noncontrolling Interest [Line Items]
Noncontrolling interest	7.40%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 154,900	$ 145,225
Regulatory balancing account revenue	115,849	(14,125)
Operating revenue	270,749	131,100
Total non-regulated revenue	5,098	4,623
Residential
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	92,492	84,035
Business
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	34,549	31,974
Multiple residential
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	16,869	14,997
Industrial
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	6,640	5,634
Public authorities
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	6,962	6,425
Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	(2,612)	2,160
Operating and maintenance revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	3,248	3,235
Other non-regulated revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,229	782
Non-regulated revenue from contracts with customers
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	4,477	4,017
Lease revenue	621	606
Total non-regulated revenue	$ 5,098	$ 4,623

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	4 Months Ended	15 Months Ended
	Mar. 31, 2024	Apr. 30, 2024	Mar. 31, 2024
Disaggregation of Revenue [Line Items]
Maximum collection period in which deferred net WRAM and MCBA revenues and associated costs will be recognized	24 months
Subsequent Event
Disaggregation of Revenue [Line Items]
Application amount for eligible customer arrearages		$ 82
IRMA long-term regulatory liability
Disaggregation of Revenue [Line Items]
Regulated revenue			$ 80.7
MWRAM
Disaggregation of Revenue [Line Items]
Regulated revenue			$ 31.1

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 2,854	$ 5,629
Provision for credit loss expense	1,052	2,480
Write-offs	(1,288)	(5,795)
Recoveries	126	540
Total ending allowance balance	$ 2,744	$ 2,854

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Cash and cash equivalents	$ 42,814	$ 39,591
Restricted cash	45,449	45,375
Total cash, cash equivalents, and restricted cash shown in the statements of cash flows	$ 88,263	$ 84,966	$ 86,439	$ 85,025

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Stock-based Compensation
Recorded compensation costs for the RSAs and RSUs	$ 0.7	$ 0.1
RSAs
Stock-based Compensation
Period for recognition	1 year 7 months 6 days
Unrecognized compensation cost	$ 1.3
Performance-Based Restricted Stock Unit Awards (RSUs)
Stock-based Compensation
Period for recognition	1 year 6 months
Unrecognized compensation cost	$ 2
Performance period	3 years
Performance-Based Restricted Stock Unit Awards (RSUs) | Minimum
Stock-based Compensation
Options vested on anniversary date	0%
Performance-Based Restricted Stock Unit Awards (RSUs) | Maximum
Stock-based Compensation
Options vested on anniversary date	200%
Officer | RSAs
Stock-based Compensation
Vesting period	36 months
Period for recognition	36 months
Director | RSAs
Stock-based Compensation
Vesting period	12 months
Period for recognition	12 months

Stock-Based Compensation - RSAs

Stock-Based Compensation - RSAs & Performance-Based RSUs (Details)	3 Months Ended
	Mar. 31, 2024 $ / shares shares
RSAs
Number of shares
Beginning balance (in shares) | shares	53,303
Vested (in shares) | shares	(28,843)
Ending balance (in shares) | shares	24,460
Weighted average price at grant
Beginning balance (in dollars per share) | $ / shares	$ 55.48
Vested (in dollars per share) | $ / shares	55.23
Ending balance (in dollars per share) | $ / shares	$ 55.78
RSUs
Number of shares
Beginning balance (in shares) | shares	93,078
Performance criteria adjustment (in shares) | shares	13,735
Vested (in shares) | shares	(36,394)
Ending balance (in shares) | shares	70,419
Weighted average price at grant
Beginning balance (in dollars per share) | $ / shares	$ 55.41
Performance criteria adjustment (in dollars per share) | $ / shares	53.96
Vested (in dollars per share) | $ / shares	53.96
Ending balance (in dollars per share) | $ / shares	$ 55.87

Equity - Narrative (Details)

Equity - Narrative (Details) - USD ($) $ in Millions		3 Months Ended
	Apr. 29, 2022	Mar. 31, 2023	Mar. 31, 2024
Equity [Abstract]
Maximum consideration on transaction	$ 350
Sale of stock, agreement term	3 years
Sale of stock, number of shares issued in transaction (in shares)		326,042
Issuance of common stock		$ 18.2
Payments for commissions		$ 0.2
Service costs and actuarial gains and losses reclassified to other comprehensive loss			$ 13.7

Equity - Changes in Equity (Det

Equity - Changes in Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period (in shares)	57,724,000
Balance at beginning of period	$ 1,430,312	$ 1,322,394
Net income (loss)	69,690	(22,334)
Issuance of common stock	1,507	17,384
Repurchase of common stock	(1,142)	0
Dividends paid on common stock	(16,164)	(14,456)
Adjustment for unrecoverable pension benefit plan costs	(13,663)
Amounts reclassified to earnings	297
Investment in business with noncontrolling interest	$ 0	0
Balance at end of period (in shares)	57,754,000
Balance at end of period	$ 1,470,837	$ 1,302,988
Dividends paid on common stock (in dollars per share)	$ 0.2800	$ 0.2600
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period (in shares)	57,724,000	55,598,000
Balance at beginning of period	$ 577	$ 556
Issuance of common stock (in shares)	55,000	420,000
Issuance of common stock	$ 1	$ 4
Repurchase of common stock (in shares)	(25,000)	(27,000)
Balance at end of period (in shares)	57,754,000	55,991,000
Balance at end of period	$ 578	$ 560
Additional Paid-in Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period	876,583	760,336
Issuance of common stock	1,506	17,380
Repurchase of common stock	(1,142)
Investment in business with noncontrolling interest	(53)	(111)
Balance at end of period	876,894	777,605
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period	549,573	556,698
Net income (loss)	69,917	(22,211)
Dividends paid on common stock	(16,164)	(14,456)
Balance at end of period	603,326	520,031
Accumulated Other Comprehensive Loss
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period	0
Adjustment for unrecoverable pension benefit plan costs	(13,663)
Amounts reclassified to earnings	297
Balance at end of period	(13,366)
Noncontrolling Interests
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period	3,579	4,804
Net income (loss)	(227)	(123)
Investment in business with noncontrolling interest	53	111
Balance at end of period	$ 3,405	$ 4,792

Pension Plan and Other Postre_3

Pension Plan and Other Postretirement Benefits (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pension Plan
Pension Plan and Other Postretirement Benefits
Employer cash contributions	$ 0	$ 2,900
Estimated cash contributions in the current fiscal year	700
Components of the pension plans and other postretirement benefits
Service cost	5,648	6,046
Interest cost	8,881	8,746
Expected return on plan assets	(13,236)	(13,421)
Amortization of prior service cost	131	131
Recognized net actuarial (gain) loss	189	(637)
Net periodic benefit cost (credit)	1,613	865
Other Benefits
Pension Plan and Other Postretirement Benefits
Employer cash contributions	0	200
Estimated cash contributions in the current fiscal year	200
Components of the pension plans and other postretirement benefits
Service cost	1,520	1,126
Interest cost	1,684	1,297
Expected return on plan assets	(2,987)	(2,636)
Amortization of prior service cost	39	39
Recognized net actuarial (gain) loss	(198)	(581)
Net periodic benefit cost (credit)	$ 58	$ (755)

Short-term and Long-term Borr_2

Short-term and Long-term Borrowings (Details) - USD ($)		3 Months Ended
	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Cal Water
Debt Instrument [Line Items]
Outstanding borrowings		$ 215,000,000		$ 130,000,000
Parent Company
Debt Instrument [Line Items]
Outstanding borrowings		$ 65,000,000		$ 50,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 600,000,000		$ 600,000,000
Debt instrument, term	5 years
Average borrowing rate		6.38%	5.49%
Revolving Credit Facility | Base Rate | Minimum
Debt Instrument [Line Items]
Interest rate	0%
Revolving Credit Facility | Base Rate | Maximum
Debt Instrument [Line Items]
Interest rate	0.25%
Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Minimum
Debt Instrument [Line Items]
Interest rate	0.80%
Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Maximum
Debt Instrument [Line Items]
Interest rate	1.25%
Revolving Credit Facility | Cal Water
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 400,000,000		$ 400,000,000
Incremental expansion of borrowing capacity	150,000,000		150,000,000
Revolving Credit Facility | Parent Company
Debt Instrument [Line Items]
Maximum borrowing capacity	200,000,000		200,000,000
Incremental expansion of borrowing capacity	$ 50,000,000		$ 50,000,000

Income Taxes - Provision for In

Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income tax (benefit) expense	$ 16,859	$ (3,850)

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Decrease in income tax expense	$ 20,700
Income tax expense (benefit)	$ 16,859	$ (3,850)
Effective tax rate estimate	19.60%	14.60%
Unrecognized tax benefits	$ 16,600	$ 14,000
Tax benefits that, if recognized, would affect the effective tax rate	$ 5,000	$ 4,500

Regulatory Assets and Liabili_3

Regulatory Assets and Liabilities - Schedule of Regulatory Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Regulatory Assets and Liabilities [Line Items]
Total Regulatory Assets	$ 384,501	$ 257,621
Total Regulatory Liabilities	729,904	683,717
Cost of removal
Regulatory Assets and Liabilities [Line Items]
Total Regulatory Liabilities	456,471	447,356
Future tax benefits due to customers
Regulatory Assets and Liabilities [Line Items]
Total Regulatory Liabilities	118,051	118,051
Pension and retiree group health
Regulatory Assets and Liabilities [Line Items]
Total Regulatory Liabilities	102,255	88,728
Incremental cost balancing account (ICBA)
Regulatory Assets and Liabilities [Line Items]
Total Regulatory Liabilities	10,795	0
IRMA long-term regulatory liability
Regulatory Assets and Liabilities [Line Items]
Total Regulatory Liabilities	6,993	0
Health Cost Balancing Account (HCBA)
Regulatory Assets and Liabilities [Line Items]
Total Regulatory Liabilities	4,291	3,242
PCBA
Regulatory Assets and Liabilities [Line Items]
Total Regulatory Liabilities	11,220	8,972
Conservation Expense Balancing Account
Regulatory Assets and Liabilities [Line Items]
Total Regulatory Liabilities	1,324	1,200
Net WRAM and MCBA long-term payable
Regulatory Assets and Liabilities [Line Items]
Total Regulatory Liabilities	3,082	2,071
Other components of net periodic benefit cost
Regulatory Assets and Liabilities [Line Items]
Total Regulatory Liabilities	13,300	10,348
RSF regulatory liability
Regulatory Assets and Liabilities [Line Items]
Total Regulatory Liabilities	0	2,116
Other regulatory liabilities
Regulatory Assets and Liabilities [Line Items]
Total Regulatory Liabilities	2,122	1,633
Future tax benefits due to customers
Regulatory Assets and Liabilities [Line Items]
Total Regulatory Assets	158,486	158,486
Other accrued benefits
Regulatory Assets and Liabilities [Line Items]
Total Regulatory Assets	26,975	25,363
Net WRAM and Modified Cost Balancing Account (MCBA) long-term accounts receivable
Regulatory Assets and Liabilities [Line Items]
Total Regulatory Assets	10,490	10,738
Asset retirement obligations, net
Regulatory Assets and Liabilities [Line Items]
Total Regulatory Assets	27,495	26,686
IRMA long-term accounts receivable
Regulatory Assets and Liabilities [Line Items]
Total Regulatory Assets	$ 84,593	3,430
MWRAM
Regulatory Assets and Liabilities [Line Items]
Recovery Period	1 year
Total Regulatory Assets	$ 31,066	0
Tank coating
Regulatory Assets and Liabilities [Line Items]
Total Regulatory Assets	20,112	19,602
Recoverable property losses
Regulatory Assets and Liabilities [Line Items]
Total Regulatory Assets	2,956	3,121
PCBA
Regulatory Assets and Liabilities [Line Items]
Total Regulatory Assets	$ 4,314	4,182
Customer assistance program (CAP) and Rate support fund (RSF) accounts receivable
Regulatory Assets and Liabilities [Line Items]
Recovery Period	1 year
Total Regulatory Assets	$ 10,787	2,459
Other regulatory assets
Regulatory Assets and Liabilities [Line Items]
Total Regulatory Assets	$ 7,227	$ 3,554
Minimum | IRMA long-term accounts receivable
Regulatory Assets and Liabilities [Line Items]
Recovery Period	1 year
Maximum | IRMA long-term accounts receivable
Regulatory Assets and Liabilities [Line Items]
Recovery Period	2 years

Regulatory Assets and Liabili_4

Regulatory Assets and Liabilities - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		15 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Dec. 31, 2023
Schedule of Regulatory Assets and Liabilities [Line Items]
Water production costs	$ 64,185	$ 55,008
Short-term portion of the regulatory assets	56,125		$ 56,125	$ 64,240
Short-term portion of the regulatory liabilities	$ 16,644		16,644	$ 21,540
Incremental cost balancing account (ICBA)
Schedule of Regulatory Assets and Liabilities [Line Items]
Water production costs			1,600
Incremental cost balancing account (ICBA)
Schedule of Regulatory Assets and Liabilities [Line Items]
Water production costs			$ 10,800

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Mar. 31, 2024
Lessee, Lease, Description [Line Items]
Contingency loss recognized liability	$ 6		$ 6.9
Camino Real | Supply Commitment
Lessee, Lease, Description [Line Items]
Payments for other commitments	$ 22.3	$ 21.5

Fair Value of Financial Asset_3

Fair Value of Financial Assets and Liabilities - Narrative (Details)	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Risk premium (as a percent)	0.60%

Fair Value of Financial Asset_4

Fair Value of Financial Assets and Liabilities - Schedule of Long Term Debt at Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Cost
Fair Value of Financial Assets and Liabilities
Long-term debt, including current maturities, net	$ 1,053,275	$ 1,053,440
Fair Value
Fair Value of Financial Assets and Liabilities
Long-term debt, including current maturities, net	939,102	965,444
Fair Value | Level 1
Fair Value of Financial Assets and Liabilities
Long-term debt, including current maturities, net	0	0
Fair Value | Level 2
Fair Value of Financial Assets and Liabilities
Long-term debt, including current maturities, net	939,102	965,444
Fair Value | Level 3
Fair Value of Financial Assets and Liabilities
Long-term debt, including current maturities, net	$ 0	$ 0

Subsequent Event (Details)

Subsequent Event (Details) - Subsequent Event $ in Millions	4 Months Ended
	Apr. 30, 2024 USD ($)
Subsequent Event [Line Items]
Application amount for eligible customer arrearages	$ 82
Application amount for program administrative costs	$ 1