Global Water Resources (GWRS) 10-Q 9 Aug 23 2023 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2023	Aug. 09, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-37756
Entity Registrant Name	Global Water Resources, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	90-0632193
Entity Address, Address Line One	21410 N. 19th Avenue #220
Entity Address, City or Town	Phoenix,
Entity Address, State or Province	AZ
Entity Address, Postal Zip Code	85027
City Area Code	480
Local Phone Number	360-7775
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	GWRS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Shell Company	false
Entity Common Stock, Shares Outstanding		24,170,517
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001434728
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEET - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
PROPERTY, PLANT AND EQUIPMENT:
Land	$ 1,480	$ 1,480
Depreciable property, plant and equipment	378,190	344,043
Construction work-in-progress	70,442	66,039
Other	697	697
Less accumulated depreciation	(137,149)	(124,522)
Net property, plant and equipment	313,660	287,737
CURRENT ASSETS:
Cash and cash equivalents	2,007	6,561
Accounts receivable — net	3,061	2,139
Customer payments in-transit	251	462
Unbilled revenue	3,130	2,557
Taxes, prepaid expenses, and other current assets	1,419	2,439
Total current assets	9,868	14,158
OTHER ASSETS:
Goodwill	10,913	4,957
Intangible assets — net	10,146	10,139
Regulatory asset	3,073	3,169
Restricted cash	2,348	1,001
Right-of -use asset	1,717	1,891
Other noncurrent assets	35	34
Total other assets	28,232	21,191
TOTAL ASSETS	351,760	323,086
CURRENT LIABILITIES:
Accounts payable	378	2,173
Accrued expenses	8,381	8,056
Customer and meter deposits	1,685	1,682
Long-term debt — current portion	3,878	3,833
Leases — current portion	504	505
Total current liabilities	14,826	16,249
NONCURRENT LIABILITIES:
Line of credit	6,765	0
Long-term debt	103,259	104,945
Long-term lease liabilities	1,413	1,616
Deferred revenue - ICFA	19,380	20,974
Regulatory liability	6,361	6,371
Advances in aid of construction	105,240	93,656
Contributions in aid of construction — net	34,251	26,404
Deferred income tax liabilities, net	7,038	5,949
Acquisition liability	3,080	1,773
Other noncurrent liabilities	2,120	755
Total noncurrent liabilities	288,907	262,443
Total liabilities	303,733	278,692
Commitments and contingencies (Refer to Note 16)
SHAREHOLDERS’ EQUITY:
Common stock, $0.01 par value, 60,000,000 shares authorized; 24,477,252 and 24,095,139 shares issued as of June 30, 2023 and December 31, 2022, respectively.	240	239
Treasury stock, 306,735 and 224,093 shares at June 30, 2023 and December 31, 2022, respectively.	(2)	(2)
Paid in capital	47,101	44,157
Retained earnings	688	0
Total shareholders’ equity	48,027	44,394
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 351,760	$ 323,086

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEET (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	60,000,000	60,000,000
Common stock, issued (in shares)	24,477,252	24,095,139
Treasury stock (in shares)	306,735	224,093

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenues [Abstract]
Total revenues	$ 13,000	$ 11,707	$ 26,128	$ 21,736
OPERATING EXPENSES:
Operations and maintenance	3,181	2,942	5,970	5,485
General and administrative	4,104	3,876	8,011	7,656
Depreciation and amortization	2,705	2,427	5,360	4,770
Total operating expenses	9,990	9,245	19,341	17,911
OPERATING INCOME	3,010	2,462	6,787	3,825
OTHER INCOME (EXPENSE):
Interest expense	(1,281)	(1,057)	(2,449)	(2,262)
Allowance for equity funds used during construction	216	0	515	0
Other - Net	525	552	948	1,626
Total other expense	(540)	(505)	(986)	(636)
INCOME BEFORE INCOME TAXES	2,470	1,957	5,801	3,189
INCOME TAX BENEFIT (EXPENSE)	(731)	150	(1,596)	(193)
NET INCOME	$ 1,739	$ 2,107	$ 4,205	$ 2,996
Basic earnings per common share (in dollars per share)	$ 0.07	$ 0.09	$ 0.18	$ 0.13
Diluted earnings per common share (in dollars per share)	0.07	0.09	0.17	0.13
Dividends declared per common share (in dollars per share)	$ 0.07	$ 0.07	$ 0.15	$ 0.15
Weighted average number of common shares used in the determination of:
Basic (in shares)	23,958,205	22,686,559	23,914,866	22,667,990
Diluted (in shares)	24,038,902	22,867,290	24,033,994	22,876,273
Water services
Revenues [Abstract]
Total revenues	$ 6,557	$ 5,682	$ 11,396	$ 10,030
Wastewater and recycled water services
Revenues [Abstract]
Total revenues	6,443	6,020	12,464	11,701
Unregulated revenues
Revenues [Abstract]
Total revenues	$ 0	$ 5	$ 2,268	$ 5

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Treasury Stock	Paid-in Capital	Retained Earnings
Balance at the beginning (in shares) at Dec. 31, 2021		22,832,013
Balance, at the beginning at Dec. 31, 2021	$ 30,029	$ 228	$ (2)	$ 29,803	$ 0
Balance at the beginning (in shares) at Dec. 31, 2021			(182,445)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared	(1,670)			(781)	(889)
Stock option exercise (in shares)		250
Stock option exercise	3			3
Stock compensation	389			389
Net income	889				889
Balance at the end (in shares) at Mar. 31, 2022		22,832,263
Balance, at the end at Mar. 31, 2022	29,640	$ 228	$ (2)	29,414	0
Balance at the end (in shares) at Mar. 31, 2022			(182,445)
Balance at the beginning (in shares) at Dec. 31, 2021		22,832,013
Balance, at the beginning at Dec. 31, 2021	30,029	$ 228	$ (2)	29,803	0
Balance at the beginning (in shares) at Dec. 31, 2021			(182,445)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	2,996
Balance at the end (in shares) at Jun. 30, 2022		22,939,811
Balance, at the end at Jun. 30, 2022	29,861	$ 228	$ (2)	29,635	0
Balance at the end (in shares) at Jun. 30, 2022			(223,201)
Balance at the beginning (in shares) at Mar. 31, 2022		22,832,263
Balance, at the beginning at Mar. 31, 2022	29,640	$ 228	$ (2)	29,414	0
Balance at the beginning (in shares) at Mar. 31, 2022			(182,445)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared	(1,674)			433	(2,107)
Treasury stock (in shares)			(40,756)
Treasury stock	(257)			(257)
Stock option exercise (in shares)		107,548
Stock compensation	45			45
Net income	2,107				2,107
Balance at the end (in shares) at Jun. 30, 2022		22,939,811
Balance, at the end at Jun. 30, 2022	29,861	$ 228	$ (2)	29,635	0
Balance at the end (in shares) at Jun. 30, 2022			(223,201)
Balance at the beginning (in shares) at Dec. 31, 2022		24,095,139
Balance, at the beginning at Dec. 31, 2022	$ 44,394	$ 239	$ (2)	44,157	0
Balance at the beginning (in shares) at Dec. 31, 2022	(224,093)		(224,093)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared	$ (1,778)				(1,778)
Stock compensation	299			299
Net income	2,466				2,466
Balance at the end (in shares) at Mar. 31, 2023		24,095,139
Balance, at the end at Mar. 31, 2023	45,381	$ 239	$ (2)	44,456	688
Balance at the end (in shares) at Mar. 31, 2023			(224,093)
Balance at the beginning (in shares) at Dec. 31, 2022		24,095,139
Balance, at the beginning at Dec. 31, 2022	$ 44,394	$ 239	$ (2)	44,157	0
Balance at the beginning (in shares) at Dec. 31, 2022	(224,093)		(224,093)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 4,205
Balance at the end (in shares) at Jun. 30, 2023		24,477,252
Balance, at the end at Jun. 30, 2023	$ 48,027	$ 240	$ (2)	47,101	688
Balance at the end (in shares) at Jun. 30, 2023	(306,735)		(306,735)
Balance at the beginning (in shares) at Mar. 31, 2023		24,095,139
Balance, at the beginning at Mar. 31, 2023	$ 45,381	$ 239	$ (2)	44,456	688
Balance at the beginning (in shares) at Mar. 31, 2023			(224,093)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared	(1,794)			(55)	(1,739)
Issuance of Common Stock (in shares)		230,000
Issuance of Common Stock	2,748	$ 1		2,747
Treasury stock (in shares)			(82,642)
Stock option exercise (in shares)		152,113
Stock compensation	(47)			(47)
Net income	1,739				1,739
Balance at the end (in shares) at Jun. 30, 2023		24,477,252
Balance, at the end at Jun. 30, 2023	$ 48,027	$ 240	$ (2)	$ 47,101	$ 688
Balance at the end (in shares) at Jun. 30, 2023	(306,735)		(306,735)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Stockholders' Equity [Abstract]
Dividends declared (in dollars per share)	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.15	$ 0.15

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 4,205	$ 2,996
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred compensation	734	537
Depreciation and amortization	5,360	4,770
Right of use amortization	192	26
Amortization of deferred debt issuance costs and discounts	22	22
(Gain) Loss on disposal of fixed assets	(66)	(5)
Provision for credit losses	35	32
Deferred income tax expense	1,090	301
Changes in assets and liabilities
Accounts receivable	(885)	(375)
Other current assets	694	(463)
Accounts payable and other current liabilities	392	(1,339)
Other noncurrent assets	160	(483)
Other noncurrent liabilities	722	5,857
Net cash provided by operating activities	12,655	11,876
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(13,693)	(14,638)
Cash paid for acquisitions, net of cash acquired	(6,246)	(121)
Other cash flows from investing activities	0	(24)
Net cash used in investing activities	(19,939)	(14,783)
CASH FLOWS FROM FINANCING ACTIVITIES:
Dividends paid	(3,572)	(3,343)
Advances in aid of construction	420	1,789
Refunds of advances for construction	0	(91)
Refunds of developer taxes	(5)	0
Proceeds from stock option exercise	0	3
Payments for taxes related to net shares settlement of equity awards	(357)	0
Principal payments under finance lease	(258)	(28)
Line of credit borrowings, net	6,765	0
Loan borrowings	253	0
Loan repayments	0	(233)
Repayments of bond	(1,917)	(1,917)
Proceeds from sale of stock	2,748	0
Net cash provided by (used in) financing activities	4,077	(3,820)
INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	(3,207)	(6,727)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — Beginning of period	7,562	13,443
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH – End of period	4,355	6,716
Supplemental Cash Flow Information [Abstract]
Cash and cash equivalents	2,007	4,791
Restricted Cash	2,348	1,925
Total cash, cash equivalents, and restricted cash	$ 4,355	$ 6,716

Basis of Presentation, Corporat

Basis of Presentation, Corporate Transactions, Significant Accounting Policies, and Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation, Corporate Transactions, Significant Accounting Policies, and Recent Accounting Pronouncements	BASIS OF PRESENTATION, CORPORATE TRANSACTIONS, SIGNIFICANT ACCOUNTING POLICIES, AND RECENT ACCOUNTING PRONOUNCEMENTS Basis of Presentation and Principles of Consolidation The condensed consolidated financial statements of Global Water Resources, Inc. (the “Company”, “GWRI”, “we”, “us”, or “our”) and related disclosures as of June 30, 2023 and for the three and six months ended June 30, 2023 and 2022 are unaudited. The December 31, 2022 condensed consolidated balance sheet data was derived from the Company’s audited consolidated financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America (“U.S. GAAP”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. These financial statements follow the same accounting policies and methods of their application as the Company’s most recent annual consolidated financial statements. These financial statements should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2022. In the Company’s opinion, these financial statements include all normal and recurring adjustments necessary for the fair statement of the results for the interim period. The results of operations for the three and six months ended June 30, 2023 are not necessarily indicative of the results to be expected for the full year, due to the seasonality of our business. The Company prepares its financial statements in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). The preparation of the financial statements in conformity with U.S. 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 date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates. Arizona Corporation Commission (“ACC”) Rate Case On June 27, 2023, seven of the Company’s 13 regulated utilities each filed a rate case application with the ACC for water rates based on a 2022 test year. In addition to a rate increase, the Company requested, among other things, the consolidation of water rates for certain of its utilities, including Global Water-Mirabell Water Company, Inc. (“Mirabell”), Global Water-Lyn Lee Water Company, Inc. (“Lyn Lee”), Global Water-Francesca Water Company, Inc. (“Francesca”), Global Water-Tortolita Water Company, Inc. (“Tortolita”), Global Water-Rincon Water Company, Inc. (“Rincon”), Global Water-Las Quintas Serenas Water Company, Inc. (“Las Quintas Serenas”), and Global Water-Red Rock Water Company, Inc. (“Red Rock”), each located in Pima County. Of the Company’s utilities, these utilities filing rate applications make up approximately 3% of the Company’s active service connections. There can be no assurance that the ACC will approve the requested rate increase or any increase or the consolidation of water rates described above, and the ACC could take other actions as a result of the rate case. Further, it is possible that the ACC may determine to decrease future rates. There can also be no assurance as to the timing of when an approved rate increase (if any) would go into effect. On July 27, 2022, the ACC issued Rate Decision No. 78644 relating to the Company’s previous rate case. Pursuant to Rate Decision No. 78644, the ACC approved, among other things, a collective annual revenue requirement increase of approximately $2.2 million (including the acquisition premiums discussed below) based on 2019 test year service connections, and phased-in over approximately two years. The ACC also approved: (i) the consolidation of water and/or wastewater rates to create economies of scale that are beneficial to all customers when rates are consolidated; (ii) acquisition premiums relating to the Company’s acquisitions of its Red Rock and Global Water-Turner Ranches Irrigation, Inc. (“Turner Ranches”) utilities, which increase the rate base for such utilities and result in an increase in the annual collective revenue requirement ; (iii) the Company’s ability to annually adjust rates to flow through certain changes in tax expense, primarily related to income taxes, without the necessity of a rate case proceeding; and (iv) a sustainable water surcharge, which will allow semiannual surcharges to be added to customer bills based on verified costs of new water resources. Refer to Note 2 – “Regulatory Decision and Related Accounting and Policy Changes” for additional information. Private Placement Offering of Common Stock On June 8, 2023, the Company entered into a securities purchase agreement for the issuance and sale by the Company of an aggregate of 230,000 shares of the Company’s common stock at a purchase price of $12.07 per share in an offering exempt from registration pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), and Rule 506 promulgated thereunder. The Company received gross proceeds of approximately $2.8 million from the offering. One of the Company’s directors purchased an aggregate of 30,000 shares of common stock in the offering at the purchase price. Public Offering of Common Stock On August 1, 2022, the Company completed a public offering of 1,150,000 shares of common stock at a public offering price of $13.50 per share, which included 150,000 shares issued and sold to the underwriter following the exercise in full of its option to purchase additional shares of common stock. The Company received net proceeds of approximately $14.9 million from the offering after deducting underwriting discounts and commissions and offering expenses paid by the Company. Certain of the Company’s directors and/or their affiliates purchased an aggregate of 652,000 shares of common stock at the public offering price. Stipulated Condemnation of the Operations and Assets of Valencia Water Company, Inc. On July 14, 2015, the Company closed the stipulated condemnation to transfer the operations and assets of Valencia Water Company, Inc. (“Valencia”) to the City of Buckeye. Terms of the condemnation were agreed upon through a settlement agreement and stipulated final judgment of condemnation wherein the City of Buckeye acquired all the operations and assets of Valencia and assumed operation of the utility upon close. The City of Buckeye is obligated to pay the Company a growth premium equal to $3,000 for each new water meter installed within Valencia’s prior service areas in the City of Buckeye, for a 20-year period ending December 31, 2034, subject to a maximum payout of $45.0 million over the term of the agreement. The Company received growth premiums of $0.5 million for both the three months ended June 30, 2023 and 2022 and $0.9 million and $1.6 million for the six months ended June 30, 2023 and 2022, respectively. Significant Accounting Policies Basic and Diluted Earnings per Common Share Basic earnings per share (“EPS”) in each period of this report were calculated by dividing net income by the weighted-average number of shares during those periods. Diluted EPS includes additional weighted-average common stock equivalents (options and restricted stock awards), if dilutive. Unless otherwise noted, the term “earnings per share” refers to basic EPS. A reconciliation of the denominator used in basic and diluted EPS calculations is shown in the following table: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2023 2022 2023 2022 Basic weighted average common shares outstanding 23,958 22,687 23,915 22,668 Effect of dilutive securities: 2017 Option grant 64 111 81 120 2019 Option grant 6 38 18 45 2020 Restricted stock awards 9 31 10 43 2021 Restricted stock awards 2 — 10 — Total dilutive securities 81 180 119 208 Diluted weighted average common shares outstanding 24,039 22,867 24,034 22,876 Anti-dilutive shares excluded from earnings per diluted shares (1) 98 134 98 134 (1) Shares excluded from the dilutive-effect calculation because the outstanding awards’ exercise prices were greater than the average market price of the Company’s common stock. Recent Accounting Pronouncements Recently Adopted Accounting Standards In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which changed the impairment model for certain financial assets that have a contractual right to receive cash, including trade and loan receivables. The new model required recognition based upon an estimation of expected credit losses rather than recognition of losses based on the probability of occurrence. The Company is a public business entity that qualifies as a smaller reporting company, and therefore ASU 2016-13 was effective for annual reporting periods beginning after December 15, 2022. The Company adopted the standard utilizing the modified retrospective method for its trade receivables and unbilled revenue on January 1, 2023. Based on the composition of the Company’s trade receivables and unbilled revenue, and expected future losses, the adoption of ASU 2016-13 did not have a material impact on its consolidated financial statements.

Regulatory Decision and Related

Regulatory Decision and Related Accounting and Policy Changes	6 Months Ended
	Jun. 30, 2023
Regulated Operations [Abstract]
Regulatory Decision and Related Accounting and Policy Changes	REGULATORY DECISION AND RELATED ACCOUNTING AND POLICY CHANGES The Company’s regulated utilities and certain other balances are subject to regulation by the ACC and meet the requirements for regulatory accounting found within Accounting Standards Codification (“ASC 980”), Regulated Operations . In accordance with ASC 980, rates charged to utility customers are intended to recover the costs of the provision of service plus a reasonable return in the same period. Changes to the rates are made through formal rate applications with the ACC, which the Company has done for all of the operating utilities and which are described below. On or after July 1, 2023, the water processing facility and part of the wastewater processing facility of the Southwest Plant was placed in service with the remaining parts of the plant to be placed in service once sufficient flows are established. The Southwest Plant was substantially constructed prior to 2009 to process water, wastewater, and recycled water for the area southwest of the City of Maricopa. Due to the unprecedented collapse of the housing market during the Great Recession, the nearly completed plant remained idle for well over a decade. The total cost of the plant was approximately $38.4 million. Also, on July 3, 2023, Global Water-Palo Verde Utilities Company, Inc. (“Palo Verde”) and Global Water-Santa Cruz Water Company, Inc. (“Santa Cruz”) filed an application with the ACC for approval of an accounting order to defer and record as a regulatory asset the depreciation expense recorded for the Southwest Plant, plus the carrying cost at the authorized rate of return set in Palo Verde’s and Santa Cruz’s most recent rate order, until the plant is considered for recovery in the utilities’ next rate case. There can be no assurance, however, that the ACC will approve the application as submitted and the ACC could take other actions regarding the application. On June 27, 2023, seven of the Company’s 13 regulated utilities each filed a rate case application with the ACC for water rates based on a 2022 test year. In addition to a rate increase, the Company requested, among other things, the consolidation of water rates for certain of its utilities, including Mirabell, Lyn Lee, Francesca, Tortolita, Rincon, Las Quintas Serenas, and Red Rock, each located in Pima County. Of the Company’s utilities, these utilities filing rate applications make up approximately 3% of the Company’s active service connections. There can be no assurance that the ACC will approve the requested rate increase or any increase or the consolidation of water rates described above, and the ACC could take other actions as a result of the rate case. Further, it is possible that the ACC may determine to decrease future rates. There can also be no assurance as to the timing of when an approved rate increase (if any) would go into effect. On July 27, 2022, the ACC issued Rate Decision No. 78644 relating to the Company’s previous rate case. Pursuant to Rate Decision No. 78644, the ACC approved, among other things, a collective annual revenue requirement increase of approximately $2.2 million (including the acquisition premiums discussed below) based on 2019 test year service connections, and phased-in over approximately two years, as follows: Incremental Cumulative August 1, 2022 $ 1,457,462 $ 1,457,462 January 1, 2023 $ 675,814 $ 2,133,277 January 1, 2024 $ 98,585 $ 2,231,861 To the extent that the number of active service connections has increased and continues to increase from 2019 levels, the additional revenues may be greater than the amounts set forth above. On the other hand, if active connections decrease or the Company experiences declining usage per customer, the Company may not realize all of the anticipated revenues. Rate Decision No. 78644 also addressed the primary impacts of the Federal Tax Cuts and Jobs Act (the “TCJA”) on the Company, which is the reduction of the federal income tax rate from 35 percent to 21 percent beginning on January 1, 2018. The TCJA required the Company to re-measure all existing deferred income tax assets and liabilities to reflect the reduction in the federal tax rate. For the Company’s regulated entities, substantially all of the change in deferred income taxes is recorded as an offset to either a regulatory asset or liability because the impact of changes in the rates are expected to be recovered from or refunded to customers. On September 20, 2018, the ACC issued Rate Decision No. 76901, which set forth the reductions in revenue for the Santa Cruz, Palo Verde, Greater Tonopah, and Northern Scottsdale utilities due to the TCJA. Rate Decision No. 76901 adopted a phase-in approach for the reductions to match the phase-in of the revenue requirements under Rate Decision No. 74364. In 2021, the final year of the phase-in, the aggregate annual reductions in revenue for the Santa Cruz, Palo Verde, Greater Tonopah, and Northern Scottsdale utilities were approximately $415,000, $669,000, $16,000, and $5,000, respectively. The ACC also approved a carrying cost of 4.25% on regulatory liabilities resulting from the difference of the fully phased-in rates to be applied in 2021 versus the years leading up to 2021 (i.e., 2018 through 2020). Rate Decision No. 76901, however, did not address the impacts of the TCJA on accumulated deferred income taxes (“ADIT”), including excess ADIT (“EADIT”). Subsequently, Rate Decision No. 78644 approved an adjustor mechanism for income taxes. The adjustor mechanism permits the Company to flow through potential changes to state and federal income tax rates as well as refund or collect funds related to TCJA. The ACC also approved: (i) the consolidation of water and/or wastewater rates to create economies of scale that are beneficial to all customers when rates are consolidated; (ii) acquisition premiums relating to the Company’s acquisitions of its Red Rock and Turner Ranches utilities, which increase the rate base for such utilities and result in an increase in the annual collective revenue requirement included in the table above; (iii) the Company’s ability to annually adjust rates to flow through certain changes in tax expense, primarily related to income taxes, without the necessity of a rate case proceeding; and (iv) a sustainable water surcharge, which will allow semiannual surcharges to be added to customer bills based on verified costs of new water resources. Finally, Rate Decision No. 78644 requires the Company to work with ACC staff and the Residential Utility Consumer Office to prepare a Private Letter Ruling request to the Internal Revenue Service (“IRS”) to clarify whether the failure to eliminate the deferred taxes attributable to assets condemned in a transaction governed by Section 1033 of the Internal Revenue Code (“IRC”) would violate the normalization provisions of Section 168(i)(9) of the IRC. If the IRS accepts the request and issues its ruling, a copy must be provided to the ACC. Within 90 days after providing the ruling to the ACC, ACC Staff shall prepare, for ACC consideration, a memorandum and proposed order regarding guidance issued within the Private Letter Ruling. This may result in further action by the ACC, which the Company is unable to predict due to the uncertainties involved, that could have an adverse impact on its financial condition, results of operations and cash flows. Certain accounting implications related to Rate Decision No. 78644 were recognized and recorded as of June 30, 2022, and are as follows: • Reclassification of Red Rock Water, Red Rock Wastewater, and Turner Ranches acquisition premiums of approximately $0.8 million in the aggregate from goodwill to regulatory assets to be included in rate base. The premiums are to be amortized over 25 years. • Reversal of the 2017 TCJA tax reform regulatory liability of approximately $0.8 million, which was recorded as a reduction to income tax expense for approximately $0.7 million, and as a reduction to interest expense for approximately $0.1 million. • Write-off of approximately $0.3 million in capitalized rate case costs. Infrastructure Coordination and Financing Agreements Infrastructure Coordination and Financing Agreements (“ICFAs”) are agreements with developers and homebuilders where the Company provides services to plan, coordinate, and finance the water and wastewater infrastructure that would otherwise be required to be performed or subcontracted by the developer or homebuilder. Rate Decision No. 74364, issued by the ACC in February 2014, established the policy for the treatment of ICFA funds and also prohibited the Company from entering into any new ICFAs. Rate Decision No. 74364 requires a hook-up fee (“HUF”) tariff to be established for all ICFAs that come due and are paid subsequent to December 31, 2013, which is a set amount per equivalent dwelling unit determined by the ACC based on the utility and meter size. In addition, since ICFA funds are generally received in installments, Rate Decision No. 74364 prescribes that 70% of funds received must be recorded as a HUF liability, with the remaining 30% to be recorded as deferred revenue, until the HUF liability is fully funded. The Company is responsible for assuring that the full HUF tariff, which is the set amount determined by the rate decision, is funded in the HUF liability, even if it results in recording less than 30% of the overall ICFA funds as deferred revenue. Refer to Note 3 – “Revenue Recognition - Unregulated Revenue” for additional information. The Company accounts for the portion allocated to the HUF as a contribution in aid of construction (“CIAC”). However, in accordance with the ACC directives, the CIAC is not deducted from rate base until the HUF funds are expended for utility plant. Such funds are segregated in a separate bank account and used for plant. A HUF liability is established and amortized as a reduction of depreciation expense over the useful life of the related plant once the HUF funds are utilized for the construction of plant. For facilities required under a HUF or ICFA, the utilities must first use the HUF moneys received, after which, it may use debt or equity financing for the remainder of construction. Regulatory Assets and Liabilities Regulatory assets and liabilities are the result of operating in a regulated environment in which the ACC establish rates that are designed to permit the recovery of the cost of service and a return on investment. The Company capitalizes and records regulatory assets for costs that would otherwise be charged to expense if it is probable that the incurred costs will be recovered in future rates. Regulatory assets are amortized over the future periods that the costs are expected to be recovered. Final determination of whether a regulatory asset can be recovered is decided by the ACC in regulatory proceedings. If the Company determines that a portion of the regulatory assets is not recoverable in customer rates, the Company would be required to recognize the loss of the assets disallowed. If costs expected to be incurred in the future are currently being recovered through rates, the Company records those expected future costs as regulatory liabilities. The Company’s regulatory assets and liabilities consist of the following (in thousands): Recovery Period June 30, 2023 December 31, 2022 Regulatory Assets Income taxes recoverable through future rates (1) Various $ 1,442 1,482 Rate case expense surcharge (2) 2 years 346 467 Acquisition premiums (3) 25 years 1,285 1,220 Total regulatory assets $ 3,073 $ 3,169 Regulatory Liabilities Income taxes payable through future rates (1) 498 508 Acquired ICFAs (4) 5,863 5,863 Total regulatory liabilities $ 6,361 $ 6,371 (1) The TCJA required the Company to re-measure all existing deferred income tax assets and liabilities to reflect the reduction in the federal tax rate. For the Company’s regulated entities, substantially all of the change in deferred income taxes is recorded as an offset to either a regulatory asset or liability because the impact of changes in the rates are expected to be recovered from or refunded to customers. (2) Rate Decision No. 78743, issued on October 24, 2022, approved approximately $0.5 million in rate case expenses to be recovered through a rate case expense surcharge over a two-year period. (3) Decision No. 78319, issued on December 3, 2021, approved an acquisition premium to be amortized over 25 years related to the acquisition of its Rincon Utility. Amortization will begin once the Company receives a decision on the recently filed rate case and the acquisition premium is approved to be included in customer rates. The acquisition premium balance as of June 30, 2023 was approximately $0.5 million. Rate Decision No. 78644 approved acquisition premiums of approximately $0.8 million related to the acquisitions of its Turner Ranches and Red Rock utilities. Amortization began in 2022 as the acquisition premiums were included in customer rates as approved in the decision.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue Recognition	REVENUE RECOGNITION Regulated Revenue The Company’s operating revenues are primarily attributable to regulated services based upon tariff rates approved by the ACC. Regulated service revenues consist of amounts billed to customers based on approved fixed monthly fees and consumption fees, as well as unbilled revenues estimated from the last meter reading date to the end of the accounting period utilizing historical customer data recorded as accrued revenue. 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 a corresponding unbilled revenue is recognized. The unbilled revenue 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). 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 the right to invoice for the volume of consumption, service charge, and other authorized charges. The Company satisfies its performance obligation to provide water, wastewater, and recycled water services over time as the services are rendered. Regulated services may be terminated by the customers at will, and, as a result, no separate financing component is recognized for the Company’s collections from customers, which generally require payment within 15 days of billing. The Company applies judgment, based principally on historical payment experience, in estimating its customers’ ability to pay. Total revenues do not include sales tax as the Company considers itself a pass-through conduit for collecting and remitting sales taxes. Unregulated Revenue Unregulated revenues represent those revenues that are not subject to the ratemaking process of the ACC. For the three and six months ended June 30, 2023 and June 30, 2022, unregulated revenues primarily related to the revenues recognized on a portion of ICFA funds received. ICFAs are agreements with developers and homebuilders where the Company provides services to plan, coordinate, and finance the water and wastewater infrastructure that would otherwise be required to be performed or subcontracted by the developer or homebuilder. Services provided within these agreements include coordination of construction services for water and wastewater treatment facilities as well as financing, arranging, and coordinating the provision of utility services. In return, the developers and homebuilders pay the Company an agreed-upon amount per dwelling unit for the land legally described in the agreement, or a portion thereof. Under ICFA agreements, the Company has a contractual obligation to ensure physical capacity exists through its regulated utilities for the provision of water and wastewater utility service to the land when needed. This obligation persists regardless of connection growth. As these arrangements are with developers and not with the end water or wastewater customer, revenue recognition coincides with the completion of the Company’s performance obligations under the agreement with the developer and the regulated utilities’ ability to provide fitted capacity for water and wastewater service. Fees for these services are typically a negotiated amount per equivalent dwelling unit for the for the land legally described in the agreement, or a portion thereof. Payments are generally due in installments, with a portion due upon signing of the agreement, a portion due upon completion of certain milestones, and the final payment due upon final plat approval or sale of the subdivision. The payments are non-refundable. The agreements are generally recorded against the land with the appropriate recorder’s office and must be assumed in the event of a sale or transfer of the land. The regional planning and coordination of the infrastructure in the various service areas has been an important part of the Company’s business model. Rate Decision No. 74364 requires a hook-up fee (“HUF”) tariff to be established for all ICFAs that come due and are paid subsequent to December 31, 2013, which is a set amount per equivalent dwelling unit determined by the ACC based on the utility and meter size. As ICFA funds are generally received in installments, Rate Decision No. 74364 prescribes that 70% of funds received must be recorded as a HUF liability, with the remaining 30% to be recorded as deferred revenue, until the HUF liability is fully funded. The Company is responsible for assuring that the full HUF tariff, which is the set amount determined by the rate decision, is funded in the HUF liability, even if it results in recording less than 30% of the overall ICFA funds as deferred revenue. Refer to Note 2 – “Regulatory Decision and Related Accounting and Policy Changes” for additional information on the accounting treatment of HUF. The Company believes that these services are not distinct in the context of the contract because they are highly interdependent with the regulated utilities’ ability to provide fitted capacity for water and wastewater services. The Company concluded that the goods and services provided under ICFA contracts constitute a single performance obligation. ICFA revenue is recognized at a point in time when the regulated utilities have the necessary capacity in place within their infrastructure to provide water/wastewater services to the developer. The Company exercises judgment when estimating the number of equivalent dwelling units that the regulated utilities have capacity to serve. As of June 30, 2023 and December 31, 2022, ICFA deferred revenue recorded on the consolidated balance sheet totaled $19.4 million and $21.0 million, respectively, which represents deferred revenue recorded for ICFA funds received on contracts. For the six months ended June 30, 2023, ICFA revenue recognized totaled $2.3 million. No ICFA revenue was recognized for the three months ended June 30, 2023 or the three and six months ended June 30, 2022. Disaggregated Revenues For the three and six months ended June 30, 2023 and 2022, disaggregated revenues from contracts with customers by major source and customer class are as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 REGULATED REVENUE Water Services Residential $ 4,470 $ 3,893 $ 8,361 $ 7,292 Irrigation 983 982 1,347 1,329 Commercial 434 329 726 612 Construction 373 219 500 340 Other water revenues 297 259 462 457 Total water revenues 6,557 5,682 11,396 10,030 Wastewater and recycled water services Residential 5,562 5,228 11,094 10,370 Commercial 301 258 589 527 Recycled water revenues 473 427 593 589 Other wastewater revenues 107 107 188 215 Total wastewater and recycled water revenues 6,443 6,020 12,464 11,701 TOTAL REGULATED REVENUE 13,000 11,702 23,860 21,731 UNREGULATED REVENUE ICFA revenues — — 2,268 — Rental revenues — 5 — 5 TOTAL UNREGULATED REVENUE — 5 2,268 5 TOTAL REVENUE $ 13,000 $ 11,707 $ 26,128 $ 21,736 Contract Balances The Company’s contract assets and liabilities consist of the following (in thousands): June 30, 2023 December 31, 2022 CONTRACT ASSETS Accounts receivable Water services $ 2,170 $ 1,179 Wastewater and recycled water services 1,090 1,124 Total contract assets (1) $ 3,260 $ 2,303 CONTRACT LIABILITIES Deferred revenue - ICFA $ 19,380 $ 20,974 Total contract liabilities $ 19,380 $ 20,974 Remaining Performance Obligations Revenue allocated to remaining performance obligations represents contracted revenue that has not yet been recognized, which includes deferred revenue and amounts that will be invoiced and recognized as revenue in future periods. Contracted revenue expected to be recognized in future periods was approximately $19.4 million and $21.0 million at June 30, 2023 and December 31, 2022, respectively. Deferred revenue - ICFA is recognized as revenue once the obligations specified within the applicable ICFA are met, including construction of sufficient operating capacity to serve the customers for which revenue was deferred. Due to the uncertainty of future events, the Company is unable to estimate when to expect recognition of deferred revenue - ICFA.

Leases

Leases	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Leases	LEASES The Company measures the lease liability at the present value of future lease payments, excluding variable payments based on usage or performance, and calculates the present value using implicit rates. Leases with an initial term of twelve months or less are not recorded on the balance sheet. During the year ended December 31, 2022, the Company entered into nine new finance leases for vehicles with either 48 or 60 month terms, all of which include a purchase option. In January 2022, the Company entered into a five-year finance lease for office equipment which expires on January 31, 2027. There is no purchase option in the lease agreement but the Company controls and obtains substantially all of the benefit from the identified asset. In December 2021, the Company entered into a new five-year corporate office lease agreement with a commencement date of May 1, 2022. The new monthly rent expense increased to $23,750 for each full calendar month commencing on May 1, 2022 through April 30, 2025 and will increase to $41,572 for each calendar month commencing on May 1, 2025 through April 30, 2027. On March 1, 2022 the Company amended the terms of the lease to incorporate construction of tenant improvements. Rent expense arising from the operating leases totaled approximately $98,000 and $71,000 for the three months ended June 30, 2023 and 2022, respectively. Rent expense arising from the operating leases totaled approximately $195,000 and $127,000 for the six months ended June 30, 2023 and 2022, respectively. The right-of-use (“ROU”) asset recorded represents the Company’s right to use an underlying asset for the lease term and ROU lease liability represents the Company’s obligation to make lease payments arising from the lease. Lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. ROU assets at June 30, 2023 and December 31, 2022 consist of the following (in thousands): June 30, 2023 December 31, 2022 Financing Lease $ 371 $ 405 Operating Lease 1,346 1,486 Total $ 1,717 $ 1,891 Lease liabilities at June 30, 2023 and December 31, 2022 consist of the following (in thousands): June 30, 2023 December 31, 2022 Financing Lease $ 493 $ 597 Operating Lease 1,424 1,524 Total $ 1,917 $ 2,121 At June 30, 2023, the remaining aggregate annual minimum lease payments are as follows (in thousands): Finance Lease Obligations Operating Lease Obligations 2023 (remaining period) $ 105 $ 147 2024 172 295 2025 143 431 2026 97 499 2027 8 166 Thereafter — — Subtotal 525 1,538 Less: amount representing interest (32) (114) Total $ 493 $ 1,424
Leases	LEASES The Company measures the lease liability at the present value of future lease payments, excluding variable payments based on usage or performance, and calculates the present value using implicit rates. Leases with an initial term of twelve months or less are not recorded on the balance sheet. During the year ended December 31, 2022, the Company entered into nine new finance leases for vehicles with either 48 or 60 month terms, all of which include a purchase option. In January 2022, the Company entered into a five-year finance lease for office equipment which expires on January 31, 2027. There is no purchase option in the lease agreement but the Company controls and obtains substantially all of the benefit from the identified asset. In December 2021, the Company entered into a new five-year corporate office lease agreement with a commencement date of May 1, 2022. The new monthly rent expense increased to $23,750 for each full calendar month commencing on May 1, 2022 through April 30, 2025 and will increase to $41,572 for each calendar month commencing on May 1, 2025 through April 30, 2027. On March 1, 2022 the Company amended the terms of the lease to incorporate construction of tenant improvements. Rent expense arising from the operating leases totaled approximately $98,000 and $71,000 for the three months ended June 30, 2023 and 2022, respectively. Rent expense arising from the operating leases totaled approximately $195,000 and $127,000 for the six months ended June 30, 2023 and 2022, respectively. The right-of-use (“ROU”) asset recorded represents the Company’s right to use an underlying asset for the lease term and ROU lease liability represents the Company’s obligation to make lease payments arising from the lease. Lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. ROU assets at June 30, 2023 and December 31, 2022 consist of the following (in thousands): June 30, 2023 December 31, 2022 Financing Lease $ 371 $ 405 Operating Lease 1,346 1,486 Total $ 1,717 $ 1,891 Lease liabilities at June 30, 2023 and December 31, 2022 consist of the following (in thousands): June 30, 2023 December 31, 2022 Financing Lease $ 493 $ 597 Operating Lease 1,424 1,524 Total $ 1,917 $ 2,121 At June 30, 2023, the remaining aggregate annual minimum lease payments are as follows (in thousands): Finance Lease Obligations Operating Lease Obligations 2023 (remaining period) $ 105 $ 147 2024 172 295 2025 143 431 2026 97 499 2027 8 166 Thereafter — — Subtotal 525 1,538 Less: amount representing interest (32) (114) Total $ 493 $ 1,424

Property, Plant and Equipment

Property, Plant and Equipment	6 Months Ended
	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	PROPERTY, PLANT AND EQUIPMENT Depreciable property, plant, and equipment at June 30, 2023 and December 31, 2022 consist of the following (in thousands): June 30, 2023 December 31, 2022 Equipment $ 58,098 $ 55,178 Office buildings and other structures 56,958 54,647 Transmission and distribution plant 263,134 234,218 Total property, plant, and equipment $ 378,190 $ 344,043 Depreciation of property, plant and equipment is computed based on the estimated useful lives as follows: Useful Lives Equipment 3 to 30 years Office buildings and other structures 30 years Transmission and distribution plant 10 to 50 years

Accounts Receivable

Accounts Receivable	6 Months Ended
	Jun. 30, 2023
Receivables [Abstract]
Accounts Receivable	ACCOUNTS RECEIVABLE Accounts receivable as of June 30, 2023 and December 31, 2022 consist of the following (in thousands): June 30, 2023 December 31, 2022 Billed receivables $ 3,260 $ 2,303 Less provision for credit losses (199) (164) Accounts receivable — net $ 3,061 $ 2,139

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	GOODWILL AND INTANGIBLE ASSETS Goodwill The goodwill balance was $10.9 million at June 30, 2023 and is related to the Turner, Red Rock, Mirabell, Francesca, Tortolita, Lyn Lee, Las Quintas Serenas, Rincon, Twin Hawks, and Farmers acquisitions. As of June 30, 2022, the Company reclassified approximately $0.8 million of goodwill to regulatory assets related to Red Rock Water, Red Rock Wastewater, and Turner Ranches acquisition premiums as a result of Rate Decision No. 78644 (refer to Note 2 - “Regulatory Decision and Related Accounting and Policy Changes” for additional information). The Farmers acquisition contributed approximately $6.0 million to the change in the goodwill balance (refer to Note 15 - “Acquisitions” for additional information). There were no indicators of impairment identified as a result of the Company’s review of events and circumstances related to its goodwill subsequent to the acquisitions. As of June 30, 2023 and December 31, 2022, the goodwill balance consisted of the following (in thousands): December 31, 2022 Balance Acquisition Activity Adjustments Subsequent to Acquisition Date June 30, 2023 Balance Goodwill $ 4,957 $ 5,956 $ — $ 10,913 Intangible Assets As of June 30, 2023 and December 31, 2022, intangible assets consisted of the following (in thousands): June 30, 2023 December 31, 2022 Gross Accumulated Net Gross Accumulated Net INDEFINITE LIVED INTANGIBLE ASSETS: CP Water Certificate of Convenience & Necessity service area 1,532 $ 1,532 $ 1,532 $ 1,532 Intangible trademark 13 13 13 13 Franchise contract rights 139 139 132 132 Organizational costs 87 87 87 87 Total indefinite lived intangible assets 1,771 1,771 1,764 1,764 DEFINITE LIVED INTANGIBLE ASSETS: Acquired ICFAs 17,978 (14,785) 3,193 17,978 (14,785) 3,193 Sonoran contract rights 7,406 (2,224) 5,182 7,406 (2,224) 5,182 Total definite lived intangible assets 25,384 (17,009) 8,375 25,384 (17,009) 8,375 Total intangible assets $ 27,155 $ (17,009) $ 10,146 $ 27,148 $ (17,009) $ 10,139 A Certificate of Convenience & Necessity (“CC&N”) is a permit issued by the ACC allowing a public service corporation to serve a specified area, and preventing other public service corporations from offering the same services within the specified area. The CP Water CC&N intangible asset was acquired through the acquisition of CP Water Company in 2006. This CC&N permit has no outstanding conditions that would require renewal.

Transactions With Related Parti

Transactions With Related Parties	6 Months Ended
	Jun. 30, 2023
Related Party Transactions [Abstract]
Transactions With Related Parties	TRANSACTIONS WITH RELATED PARTIESThe Company provides medical benefits to employees through its participation in a pooled plan sponsored by an affiliate of a significant shareholder and director of the Company. Medical claims paid to the plan were approximately $0.2 million for both the three months ended June 30, 2023 and 2022. Medical claims paid to the plan were approximately $0.3 million for both the six months ended June 30, 2023 and 2022. Refer to Note 1 — “Basis of Presentation, Corporate Transactions, Significant Accounting Policies, and Recent Accounting Pronouncements — Corporate Transactions” (specifically the “Public Offering of Common Stock” and “Private Placement Offering of Common Stock” sections) for additional information regarding other related party disclosures.

Accrued Expenses

Accrued Expenses	6 Months Ended
	Jun. 30, 2023
Payables and Accruals [Abstract]
Accrued Expenses	ACCRUED EXPENSES Accrued expenses at June 30, 2023 and December 31, 2022 consist of the following (in thousands): June 30, 2023 December 31, 2022 Accrued project liabilities $ 1,350 $ 1,585 Property taxes 1,244 1,195 Asset retirement obligations 697 697 Customer prepayments 667 588 Accrued Bonus 642 557 Dividend payable 600 593 Deferred compensation 593 818 Interest 482 483 Other taxes 476 — Accrued professional fees 358 60 Accrued sales taxes 206 152 Accrued payroll — — Other accrued liabilities 1,066 1,328 Total accrued expenses $ 8,381 $ 8,056

Fair Value

Fair Value	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value	FAIR VALUE Fair Value of Financial Instruments FASB ASC 820, Fair Value Measurement , establishes a fair value hierarchy that distinguishes between assumptions based on market data (observable inputs) and the Company’s assumptions (unobservable inputs). The hierarchy consists of three levels, as follows: • Level 1 - Quoted market prices in active markets for identical assets or liabilities. • Level 2 - Inputs other than Level 1 that are either directly or indirectly observable. • Level 3 - Unobservable inputs developed using the Company’s estimates and assumptions, which reflect those that the Company believes market participants would use. Financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2023 and December 31, 2022 were as follows (in thousands): June 30, 2023 December 31, 2022 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Asset/Liability Type: HUF Funds - restricted cash (1) $ 1,507 $ — $ — $ 1,507 $ 161 $ — $ — $ 161 Demand Deposit (2) 1 — — 1 50 — — 50 Certificate of Deposit - Restricted (1) — 840 — 840 — 840 — 840 Acquisition Liability (3) — — 2,146 2,146 — — 838 838 Total $ 1,508 $ 840 $ 2,146 $ 4,494 $ 211 $ 840 $ 838 $ 1,889 (1) HUF Funds - restricted cash and Certificate of Deposit - Restricted are presented on the Restricted cash line item of the Company’s consolidated balance sheets and are valued at amortized cost, which approximates fair value. The increase was primarily driven by additional funds received in growth areas of several utilities. (2) Demand Deposit is presented on the Cash and cash equivalents line item of the Company’s consolidated balance sheets and is valued at amortized cost, which approximates fair value. (3) As part of the Red Rock acquisition, the Company is required to pay to the seller a growth premium equal to $750 (not in thousands) for each new account established within three specified growth premium areas, commencing in each area on the date of the first meter installation and ending on the earlier of ten years after such first installation date, or twenty years from the acquisition date. The fair value of the acquisition liability was calculated using a discounted cash flow technique which utilized unobservable inputs developed using the Company’s estimates and assumptions. Significant inputs used in the fair value calculation are as follows: year of the first meter installation, total new accounts per year, years to complete full build out, and discount rate. In addition, as part of the Farmers acquisition, the Company is required to pay the seller a growth premium equal to $1,000 (not in thousands) for each new account established in the service area, up to a total aggregate growth premium of $3.5 million. The obligation period of the growth premium commences on the closing date of the acquisition and ends ten years after the first new account for residential purposes is established on land that is, at the time of the closing date of the acquisition, undeveloped or unplatted and owned by the seller within the service area or ten years after the date of closing if a new account (as previously described) has not been established.

Debt

Debt	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Debt	DEBT The outstanding balances and maturity dates for short-term (including the current portion of long-term debt) and long-term debt as of June 30, 2023 and December 31, 2022 are as follows (in thousands): June 30, 2023 December 31, 2022 Short-term Long-term Short-term Long-term BONDS AND NOTES PAYABLE - 4.380% Series A 2016, maturing June 2028 $ — 28,750 $ — $ 28,750 4.580% Series B 2016, maturing June 2036 3,833 74,750 3,833 76,667 3,833 103,500 3,833 105,417 OTHER Debt issuance costs — (449) — (472) Loan Payable 45 208 — — Total debt $ 3,878 $ 103,259 $ 3,833 $ 104,945 Debt is measured at fair value on a recurring basis as of June 30, 2023 and December 31, 2022 as follows (in thousands): June 30, 2023 December 31, 2022 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Long-term debt (3) — 101,287 — 101,287 — 103,611 — 103,611 (3) The fair value of debt was estimated based on interest rates considered available for instruments of similar terms and remaining maturities. 2016 Senior Secured Notes On June 24, 2016, the Company issued two series of senior secured notes with an aggregate total principal balance of $115.0 million at a blended interest rate of 4.55%. Series A carries a principal balance of $28.8 million and bears an interest rate of 4.38% over a twelve-year term, with the principal payment due on June 15, 2028. Series B carries a principal balance of $78.6 million and bears an interest rate of 4.58% over a 20-year term. Series B was interest only for the first five years, with $1.9 million principal payments paid semiannually thereafter beginning December 2021. The senior secured notes are collateralized by a security interest in the Company’s equity interest in its subsidiaries, including all payments representing profits and qualifying distributions. The senior secured notes require the Company to maintain a debt service coverage ratio of consolidated EBITDA to consolidated debt service of at least 1.10 to 1.00. Consolidated EBITDA is calculated as net income plus depreciation and amortization, taxes, interest and other non-cash charges net of non-cash income. Consolidated debt service is calculated as interest expense, principal payments, and dividend or stock repurchases. The senior secured notes also contain a provision limiting the payment of dividends if the Company falls below a debt service ratio of 1.25. However, for the quarter ended June 30, 2021 through the quarter ending March 31, 2024, the debt service ratio drops to 1.20. The debt service ratio increases to 1.25 for any fiscal quarter during the period from and after June 30, 2024. As of June 30, 2023, the Company was in compliance with its financial debt covenants. Revolving Credit Line On April 30, 2020, the Company entered into an agreement with Northern Trust for a two-year revolving line of credit initially up to $10.0 million with an initial maturity date of April 30, 2022 (as amended, the “Northern Trust Loan Agreement”). This credit facility, which may be used to refinance existing indebtedness, to acquire assets to use in and/or expand the Company’s business, and for general corporate purposes, initially bore an interest rate equal to London Interbank Offered Rate (LIBOR) plus 2.00% and had no unused line fee. On April 30, 2021, the Company and Northern Trust entered into an amendment to the Northern Trust Loan Agreement pursuant to which, among other things, the maturity date for the Company’s revolving credit line was extended from April 30, 2022 to April 30, 2024. On July 26, 2022, the Company and Northern Trust entered into a second amendment to the Northern Trust Loan Agreement, which, among other things, further extended the scheduled maturity date for the revolving line of credit from April 30, 2024 to July 1, 2024, increased the maximum principal amount available for borrowing from $10.0 million to $15.0 million, and replaced the LIBOR interest rate provisions with provisions based on the Secured Overnight Financing Rate (SOFR). On June 28, 2023, the Company and Northern Trust entered into a third amendment to the Northern Trust Loan Agreement, which, among other things, (i) further amended the scheduled maturity date for the revolving line of credit from July 1, 2024 to July 1, 2025 and (ii) added a quarterly facility fee equal to 0.35% of the average daily unused amount of the revolving line of credit. The Northern Trust Loan Agreement requires the Company to maintain a debt service coverage ratio of consolidated EBITDA to consolidated debt service of at least 1.10 to 1.00. The Northern Trust 1.25. However, for the quarter ending June 30, 2021 through the quarter ending March 31, 2024, the ratio drops to 1.20. As of June 30, 2023, the Company was in compliance with its financial debt covenants. As of June 30, 2023 and December 31, 2022, the outstanding borrowings on this credit line were $6.8 million and $0, respectively. There were approximately $6,000 and $9,812 unamortized debt issuance costs as of June 30, 2023 and December 31, 2022, respectively. In 2020, ASU 2020-04 was issued establishing ASC 848, Reference Rate Reform, and in 2021 ASU 2021-01, Reference Rate Reform (Topic 848): Scope was issued (collectively, “ASC 848”). ASC 848 contains practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts. The guidance in ASC 848 is optional and may be elected over time as reference rate reform activities occur. In 2022, ASU 2022-06, Deferral of the Sunset Date of Topic 848 (ASU 2022-06) was issued to defer the sunset date of ASC 848 to December 31, 2024. ASU 2022-06 is effective immediately for all companies. The Company continues to evaluate the impact of ASC 848. At June 30, 2023, the remaining aggregate annual maturities of debt obligations are as follows (in thousands): Debt 2023 (remaining period) $ 1,917 2024 3,836 2025 3,840 2026 3,843 2027 3,847 Thereafter 89,854 Subtotal 107,137 Less: amount representing interest — Total $ 107,137

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES For the three months ended June 30, 2023, the Company recorded tax expense of $0.7 million calculated on pre-tax income of $2.5 million. For the three months ended June 30, 2022, tax expense of $0.5 million was calculated on pre-tax income of $2.0 million, which was offset by approximately $0.7 million from the reversal of the regulatory liability related to Rate Decision No. 78622 (refer to Note 2 — “Regulatory Decision and Related Accounting and Policy Changes” for additional information) resulting in a net tax benefit of $0.2 million. For the six months ended June 30, 2023, the Company recorded tax expense of $1.6 million calculated on pre-tax income of $5.8 million. For the six months ended June 30, 2022, the tax expense of $0.2 million was calculated on pre-tax income of $3.2 million, which was partially offset by approximately $0.7 million from the reversal of the regulatory liability related to Rate Decision No. 78622 as described above.

Deferred Compensation Awards

Deferred Compensation Awards	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Deferred Compensation Awards	DEFERRED COMPENSATION AWARDS Stock-based compensation Stock-based compensation related to option awards is measured based on the fair value of the award. The fair value of stock option awards is determined using a Black-Scholes option-pricing model. The Company recognizes compensation expense associated with the options over the vesting period. 2017 stock option grant In August 2017, GWRI’s Board of Directors granted stock options to acquire 465,000 shares of GWRI’s common stock to employees throughout the Company. The options were granted with an exercise price of $9.40, the market price of the Company’s common shares on the NASDAQ Global Market at the close of business on August 10, 2017. The options vested over a four-year period, with 25% having vested in August 2018, 25% having vested in August 2019, 25% having vested in August 2020, and 25% having vested in August 2021. The options have a 10-year life. The Company expensed the $1.1 million fair value of the stock option grant ratably over the four-year vesting period. As of August 2021, these options were fully expensed. As of June 30, 2023, 127,454 options have been exercised and 64,625 options have been forfeited with 268,321 options outstanding. 2019 stock option grant In August 2019, GWRI’s Board of directors granted stock options to acquire 250,000 shares of GWRI’s common stock to employees throughout the Company. The options were granted with an exercise price of $11.26, the market price of the Company’s common shares on the NASDAQ Global Market at the close of business on August 13, 2019. The options vest over a four-year period, with 25% having vested in August 2020, 25% having vested in August 2021, 25% having vested in August 2022, and 25% vesting in August 2023. The options have a 10-year life. The Company will expense the $0.8 million fair value of the stock option grant ratably over the four-year vesting period. Stock-based compensation expense of $29,000 and $45,000 was recorded for the three months ended June 30, 2023 and 2022, respectively, and $72,000 and $90,000 was recorded for the six months ended June 30, 2023 and 2022, respectively. As of June 30, 2023, 42,217 options have been exercised and 28,782 options have been forfeited with 179,001 options outstanding. Phantom stock/Restricted stock units compensation Restricted stock units are granted in the first quarter based on the prior year’s performance and vest over a three year period. The units are credited quarterly using the closing price of the Company’s common stock on the applicable record date for the respective quarter. The following table details total awards granted and the number of units outstanding as of June 30, 2023, along with the amounts paid to holders of the phantom stock units (“PSUs”) and/or restricted stock units (“RSUs”) for the years ended June 30, 2023 and 2022 (in thousands, except unit amounts): Amounts Paid For the Three Months Ended June 30, Amounts Paid For the Six Months Ended June 30, Grant Date Units Granted Units Outstanding 2023 2022 2023 2022 Q1 2019 32,190 — $ — $ — $ — $ 45 Q1 2020 22,481 — — 30 — 61 Q1 2021 (1) 27,403 6,693 28 37 57 74 Q1 2022 (1) 22,262 12,986 23 30 48 30 Q1 2023 (1) 30,366 27,836 32 — 32 — Total 134,702 47,515 $ 83 $ 97 $ 137 $ 210 (1) Pursuant to the Global Water Resources, Inc. 2020 Omnibus Incentive Plan, effective May 7, 2020, long-term incentive awards are no longer granted in the form of PSUs and are granted as RSUs instead. Stock appreciation rights compensation The following table details the recipients of the stock appreciation rights (“SARs”) awards, the grant date, units granted, exercise price, outstanding units as of June 30, 2023 and amounts paid during the three and six months ended June 30, 2023 and 2022 (in thousands, except unit and per unit amounts): Amounts Paid For the Three Months Ended June 30, Amounts Paid For the Six Months Ended June 30, Recipients Grant Date Units Granted Exercise Price Units Outstanding 2023 2022 2023 2022 Members of Management (1)(2) Q1 2015 299,000 $ 4.26 45,500 — $ 165 $ 62 Members of Management (1)(3) Q3 2017 103,000 $ 9.40 17,000 — — — — Members of Management (1)(4) Q1 2018 33,000 $ 8.99 8,250 — — — — Total 435,000 70,750 $ — $ — $ 165 $ 62 (1) The SARs vest ratably over 16 quarters from the grant date. (2) The exercise price was determined to be the fair market value of one share of GWRC stock on the grant date of February 11, 2015. (3) The exercise price was determined to be the fair market value of one share of GWRI stock on the grant date of August 10, 2017. (4) The exercise price was determined to be the fair market value of one share of GWRI stock on the grant date of March 12, 2018. For the three months ended June 30, 2023 and 2022, the Company recorded approximately $0.1 million and $0.1 million of compensation expense related to the PSUs/RSUs and SARs, respectively. These are liability awards, so when the stock price decreases, cumulative compensation expense is reduced, which can lead to negative compensation in a given period. Based on GWRI’s closing share price on June 30, 2023 (the last trading date of the quarter), deferred compensation expense to be recognized over future periods is estimated for the years ending December 31 as follows (in thousands): RSUs / PSUs 2023 $ 161 2024 241 2025 124 Total $ 526 Restricted stock compensation two

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	6 Months Ended
	Jun. 30, 2023
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	SUPPLEMENTAL CASH FLOW INFORMATIONThe following is supplemental cash flow information for the six months ended June 30, 2023 and 2022 (in thousands): For the Six Months Ended June 30, 2023 2022 Supplemental cash flow information: Cash paid for interest $ 127 $ 6 Non-cash financing and investing activities: Capital expenditures included in accounts payable and accrued liabilities $ 2,045 $ 2,406 Business acquisition through issuance of contingent consideration payable $ 1,330 $ —

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions	ACQUISITIONS Acquisition of Farmers Water Company On February 1, 2023, the Company acquired all of the equity of Farmers, an operator of a water utility with service area in Pima County, Arizona, for a total consideration of $7.6 million consisting of $6.2 million in cash plus a growth premium estimated at $1.4 million. The acquisition added approximately 3,300 active water service connections and approximately 21.5 square miles of service area in Sahuarita, Arizona and the surrounding unincorporated area of Pima County. The acquisition was accounted for as a business combination under ASC 805, “Business Combinations” and the purchase price was allocated to the acquired utility assets and liabilities based on the acquisition-date fair values. Fair values are determined in accordance with ASC 820 “Fair Value Measurement,” which allows for the characteristics of the acquired assets and liabilities to be considered, particularly restrictions on the use of the asset and liabilities. Regulation is considered both a restriction on the use of the assets and liabilities, as it relates to inclusion in rate base, and a fundamental input to measuring the fair value in a business combination. Substantially all the Company’s operations are subject to the rate-setting authority of the ACC and are accounted for pursuant to accounting guidance for regulated operations. The rate-setting and cost recovery provisions currently in place for the Company’s regulated operations provide revenues derived from costs, including a return on investment of assets and liabilities included in rate base. As such, the fair value of the Company’s assets and liabilities subject to these rate-setting provisions approximates the pre-acquisition carrying values and does not reflect any net valuation adjustments. Under the terms of the purchase agreement, the Company is obligated to pay the seller a growth premium equal to $1,000 for each new account established in the service area, up to a total aggregate growth premium of $3.5 million. The obligation period of the growth premium commences on the closing date of the acquisition and ends (i) ten years after the first new account for residential purposes is established on land that is, at the time of the closing date of the acquisition, undeveloped or unplatted and owned by the seller within the service area or (ii) ten years after the date of closing if a new account (as described above) has not been established. A preliminary purchase price allocation of the net assets acquired in the transaction is as follows (in thousands): Net assets acquired: Cash $ 28 Accounts receivable 72 Property, plant and equipment 10,386 Construction work-in-progress 126 Prepaids 8 Intangibles (1) 7 Other taxes (35) Other accrued liabilities (44) Developer deposits (22) AIAC (1,481) CIAC (7,425) Total net assets assumed 1,620 Goodwill 5,956 Total purchase price $ 7,576 (1) Intangibles consist of franchise contract rights and organization costs. Refer to Note 7 — “Goodwill & Intangible Assets” for additional information regarding the intangibles. The goodwill reflects the value paid primarily for the long-term potential for connection growth as a result of the Company’s increased scale and diversity, opportunities for synergies, and an improved risk profile.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Commitments The Company has operating and finance leases for vehicles, office equipment, and office space. Refer to Note 4 – “Leases” for additional information. On October 16, 2018, the Company completed the acquisition of Red Rock, an operator of a water and a wastewater utility with service areas in the Pima and Pinal counties of Arizona. Under the terms of the purchase agreement, the Company is obligated to pay to the seller a growth premium equal to $750 for each new account established within three specified growth premium areas, commencing in each area on the date of the first meter installation and ending on the earlier of ten years after such first installation date or twenty years from the acquisition date. As of June 30, 2023, no meters have been installed and no accounts have been established in any of the three growth premium areas. Contingencies From time to time, in the ordinary course of business, the Company may be subject to pending or threatened lawsuits in which claims for monetary damages are asserted. Management is not aware of any legal proceeding of which the ultimate resolution could materially affect the Company’s financial position, results of operations, or cash flows.

Basis of Presentation, Corpor_2

Basis of Presentation, Corporate Transactions, Significant Accounting Policies, and Recent Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Principles of Consolidation	The condensed consolidated financial statements of Global Water Resources, Inc. (the “Company”, “GWRI”, “we”, “us”, or “our”) and related disclosures as of June 30, 2023 and for the three and six months ended June 30, 2023 and 2022 are unaudited. The December 31, 2022 condensed consolidated balance sheet data was derived from the Company’s audited consolidated financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America (“U.S. GAAP”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. These financial statements follow the same accounting policies and methods of their application as the Company’s most recent annual consolidated financial statements. These financial statements should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2022. In the Company’s opinion, these financial statements include all normal and recurring adjustments necessary for the fair statement of the results for the interim period. The results of operations for the three and six months ended June 30, 2023 are not necessarily indicative of the results to be expected for the full year, due to the seasonality of our business.
Basis of Presentation	The Company prepares its financial statements in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). The preparation of the financial statements in conformity with U.S. 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 date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates.
Basic and Diluted Earnings per Common Share	Basic and Diluted Earnings per Common ShareBasic earnings per share (“EPS”) in each period of this report were calculated by dividing net income by the weighted-average number of shares during those periods. Diluted EPS includes additional weighted-average common stock equivalents (options and restricted stock awards), if dilutive. Unless otherwise noted, the term “earnings per share” refers to basic EPS.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted Accounting Standards In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which changed the impairment model for certain financial assets that have a contractual right to receive cash, including trade and loan receivables. The new model required recognition based upon an estimation of expected credit losses rather than recognition of losses based on the probability of occurrence. The Company is a public business entity that qualifies as a smaller reporting company, and therefore ASU 2016-13 was effective for annual reporting periods beginning after December 15, 2022. The Company adopted the standard utilizing the modified retrospective method for its trade receivables and unbilled revenue on January 1, 2023. Based on the composition of the Company’s trade receivables and unbilled revenue, and expected future losses, the adoption of ASU 2016-13 did not have a material impact on its consolidated financial statements.

Basis of Presentation, Corpor_3

Basis of Presentation, Corporate Transactions, Significant Accounting Policies, and Recent Accounting Pronouncements (Tables)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	A reconciliation of the denominator used in basic and diluted EPS calculations is shown in the following table: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2023 2022 2023 2022 Basic weighted average common shares outstanding 23,958 22,687 23,915 22,668 Effect of dilutive securities: 2017 Option grant 64 111 81 120 2019 Option grant 6 38 18 45 2020 Restricted stock awards 9 31 10 43 2021 Restricted stock awards 2 — 10 — Total dilutive securities 81 180 119 208 Diluted weighted average common shares outstanding 24,039 22,867 24,034 22,876 Anti-dilutive shares excluded from earnings per diluted shares (1) 98 134 98 134

Regulatory Decision and Relat_2

Regulatory Decision and Related Accounting and Policy Changes (Tables)	6 Months Ended
	Jun. 30, 2023
Regulated Operations [Abstract]
Summary of Collective Revenue Requirement Phased-in Over Time	Pursuant to Rate Decision No. 78644, the ACC approved, among other things, a collective annual revenue requirement increase of approximately $2.2 million (including the acquisition premiums discussed below) based on 2019 test year service connections, and phased-in over approximately two years, as follows: Incremental Cumulative August 1, 2022 $ 1,457,462 $ 1,457,462 January 1, 2023 $ 675,814 $ 2,133,277 January 1, 2024 $ 98,585 $ 2,231,861
Schedule of Regulatory Assets	The Company’s regulatory assets and liabilities consist of the following (in thousands): Recovery Period June 30, 2023 December 31, 2022 Regulatory Assets Income taxes recoverable through future rates (1) Various $ 1,442 1,482 Rate case expense surcharge (2) 2 years 346 467 Acquisition premiums (3) 25 years 1,285 1,220 Total regulatory assets $ 3,073 $ 3,169 Regulatory Liabilities Income taxes payable through future rates (1) 498 508 Acquired ICFAs (4) 5,863 5,863 Total regulatory liabilities $ 6,361 $ 6,371 (1) The TCJA required the Company to re-measure all existing deferred income tax assets and liabilities to reflect the reduction in the federal tax rate. For the Company’s regulated entities, substantially all of the change in deferred income taxes is recorded as an offset to either a regulatory asset or liability because the impact of changes in the rates are expected to be recovered from or refunded to customers. (2) Rate Decision No. 78743, issued on October 24, 2022, approved approximately $0.5 million in rate case expenses to be recovered through a rate case expense surcharge over a two-year period. (3) Decision No. 78319, issued on December 3, 2021, approved an acquisition premium to be amortized over 25 years related to the acquisition of its Rincon Utility. Amortization will begin once the Company receives a decision on the recently filed rate case and the acquisition premium is approved to be included in customer rates. The acquisition premium balance as of June 30, 2023 was approximately $0.5 million. Rate Decision No. 78644 approved acquisition premiums of approximately $0.8 million related to the acquisitions of its Turner Ranches and Red Rock utilities. Amortization began in 2022 as the acquisition premiums were included in customer rates as approved in the decision.
Schedule of Regulatory Liabilities	The Company’s regulatory assets and liabilities consist of the following (in thousands): Recovery Period June 30, 2023 December 31, 2022 Regulatory Assets Income taxes recoverable through future rates (1) Various $ 1,442 1,482 Rate case expense surcharge (2) 2 years 346 467 Acquisition premiums (3) 25 years 1,285 1,220 Total regulatory assets $ 3,073 $ 3,169 Regulatory Liabilities Income taxes payable through future rates (1) 498 508 Acquired ICFAs (4) 5,863 5,863 Total regulatory liabilities $ 6,361 $ 6,371 (1) The TCJA required the Company to re-measure all existing deferred income tax assets and liabilities to reflect the reduction in the federal tax rate. For the Company’s regulated entities, substantially all of the change in deferred income taxes is recorded as an offset to either a regulatory asset or liability because the impact of changes in the rates are expected to be recovered from or refunded to customers. (2) Rate Decision No. 78743, issued on October 24, 2022, approved approximately $0.5 million in rate case expenses to be recovered through a rate case expense surcharge over a two-year period. (3) Decision No. 78319, issued on December 3, 2021, approved an acquisition premium to be amortized over 25 years related to the acquisition of its Rincon Utility. Amortization will begin once the Company receives a decision on the recently filed rate case and the acquisition premium is approved to be included in customer rates. The acquisition premium balance as of June 30, 2023 was approximately $0.5 million. Rate Decision No. 78644 approved acquisition premiums of approximately $0.8 million related to the acquisitions of its Turner Ranches and Red Rock utilities. Amortization began in 2022 as the acquisition premiums were included in customer rates as approved in the decision.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	For the three and six months ended June 30, 2023 and 2022, disaggregated revenues from contracts with customers by major source and customer class are as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 REGULATED REVENUE Water Services Residential $ 4,470 $ 3,893 $ 8,361 $ 7,292 Irrigation 983 982 1,347 1,329 Commercial 434 329 726 612 Construction 373 219 500 340 Other water revenues 297 259 462 457 Total water revenues 6,557 5,682 11,396 10,030 Wastewater and recycled water services Residential 5,562 5,228 11,094 10,370 Commercial 301 258 589 527 Recycled water revenues 473 427 593 589 Other wastewater revenues 107 107 188 215 Total wastewater and recycled water revenues 6,443 6,020 12,464 11,701 TOTAL REGULATED REVENUE 13,000 11,702 23,860 21,731 UNREGULATED REVENUE ICFA revenues — — 2,268 — Rental revenues — 5 — 5 TOTAL UNREGULATED REVENUE — 5 2,268 5 TOTAL REVENUE $ 13,000 $ 11,707 $ 26,128 $ 21,736
Contract Assets and Liabilities	The Company’s contract assets and liabilities consist of the following (in thousands): June 30, 2023 December 31, 2022 CONTRACT ASSETS Accounts receivable Water services $ 2,170 $ 1,179 Wastewater and recycled water services 1,090 1,124 Total contract assets (1) $ 3,260 $ 2,303 CONTRACT LIABILITIES Deferred revenue - ICFA $ 19,380 $ 20,974 Total contract liabilities $ 19,380 $ 20,974

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Schedule of Right-of-Use Assets and Lease Liabilities	ROU assets at June 30, 2023 and December 31, 2022 consist of the following (in thousands): June 30, 2023 December 31, 2022 Financing Lease $ 371 $ 405 Operating Lease 1,346 1,486 Total $ 1,717 $ 1,891 Lease liabilities at June 30, 2023 and December 31, 2022 consist of the following (in thousands): June 30, 2023 December 31, 2022 Financing Lease $ 493 $ 597 Operating Lease 1,424 1,524 Total $ 1,917 $ 2,121
Schedule of Remaining Aggregate Annual Minimum Finance Lease Payments	At June 30, 2023, the remaining aggregate annual minimum lease payments are as follows (in thousands): Finance Lease Obligations Operating Lease Obligations 2023 (remaining period) $ 105 $ 147 2024 172 295 2025 143 431 2026 97 499 2027 8 166 Thereafter — — Subtotal 525 1,538 Less: amount representing interest (32) (114) Total $ 493 $ 1,424
Schedule of Remaining Aggregate Annual Minimum Operating Lease Payments	At June 30, 2023, the remaining aggregate annual minimum lease payments are as follows (in thousands): Finance Lease Obligations Operating Lease Obligations 2023 (remaining period) $ 105 $ 147 2024 172 295 2025 143 431 2026 97 499 2027 8 166 Thereafter — — Subtotal 525 1,538 Less: amount representing interest (32) (114) Total $ 493 $ 1,424

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	6 Months Ended
	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	Depreciable property, plant, and equipment at June 30, 2023 and December 31, 2022 consist of the following (in thousands): June 30, 2023 December 31, 2022 Equipment $ 58,098 $ 55,178 Office buildings and other structures 56,958 54,647 Transmission and distribution plant 263,134 234,218 Total property, plant, and equipment $ 378,190 $ 344,043 Depreciation of property, plant and equipment is computed based on the estimated useful lives as follows: Useful Lives Equipment 3 to 30 years Office buildings and other structures 30 years Transmission and distribution plant 10 to 50 years

Accounts Receivable (Tables)

Accounts Receivable (Tables)	6 Months Ended
	Jun. 30, 2023
Receivables [Abstract]
Summary of Accounts Receivable	Accounts receivable as of June 30, 2023 and December 31, 2022 consist of the following (in thousands): June 30, 2023 December 31, 2022 Billed receivables $ 3,260 $ 2,303 Less provision for credit losses (199) (164) Accounts receivable — net $ 3,061 $ 2,139

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	As of June 30, 2023 and December 31, 2022, the goodwill balance consisted of the following (in thousands): December 31, 2022 Balance Acquisition Activity Adjustments Subsequent to Acquisition Date June 30, 2023 Balance Goodwill $ 4,957 $ 5,956 $ — $ 10,913
Schedule of Finite-Lived Intangible Assets	As of June 30, 2023 and December 31, 2022, intangible assets consisted of the following (in thousands): June 30, 2023 December 31, 2022 Gross Accumulated Net Gross Accumulated Net INDEFINITE LIVED INTANGIBLE ASSETS: CP Water Certificate of Convenience & Necessity service area 1,532 $ 1,532 $ 1,532 $ 1,532 Intangible trademark 13 13 13 13 Franchise contract rights 139 139 132 132 Organizational costs 87 87 87 87 Total indefinite lived intangible assets 1,771 1,771 1,764 1,764 DEFINITE LIVED INTANGIBLE ASSETS: Acquired ICFAs 17,978 (14,785) 3,193 17,978 (14,785) 3,193 Sonoran contract rights 7,406 (2,224) 5,182 7,406 (2,224) 5,182 Total definite lived intangible assets 25,384 (17,009) 8,375 25,384 (17,009) 8,375 Total intangible assets $ 27,155 $ (17,009) $ 10,146 $ 27,148 $ (17,009) $ 10,139
Schedule of Indefinite-Lived Intangible Assets	As of June 30, 2023 and December 31, 2022, intangible assets consisted of the following (in thousands): June 30, 2023 December 31, 2022 Gross Accumulated Net Gross Accumulated Net INDEFINITE LIVED INTANGIBLE ASSETS: CP Water Certificate of Convenience & Necessity service area 1,532 $ 1,532 $ 1,532 $ 1,532 Intangible trademark 13 13 13 13 Franchise contract rights 139 139 132 132 Organizational costs 87 87 87 87 Total indefinite lived intangible assets 1,771 1,771 1,764 1,764 DEFINITE LIVED INTANGIBLE ASSETS: Acquired ICFAs 17,978 (14,785) 3,193 17,978 (14,785) 3,193 Sonoran contract rights 7,406 (2,224) 5,182 7,406 (2,224) 5,182 Total definite lived intangible assets 25,384 (17,009) 8,375 25,384 (17,009) 8,375 Total intangible assets $ 27,155 $ (17,009) $ 10,146 $ 27,148 $ (17,009) $ 10,139

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2023
Payables and Accruals [Abstract]
Schedule of Accrued Expenses	Accrued expenses at June 30, 2023 and December 31, 2022 consist of the following (in thousands): June 30, 2023 December 31, 2022 Accrued project liabilities $ 1,350 $ 1,585 Property taxes 1,244 1,195 Asset retirement obligations 697 697 Customer prepayments 667 588 Accrued Bonus 642 557 Dividend payable 600 593 Deferred compensation 593 818 Interest 482 483 Other taxes 476 — Accrued professional fees 358 60 Accrued sales taxes 206 152 Accrued payroll — — Other accrued liabilities 1,066 1,328 Total accrued expenses $ 8,381 $ 8,056

Fair Value (Tables)

Fair Value (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Liabilities Measured on Recurring Basis	Financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2023 and December 31, 2022 were as follows (in thousands): June 30, 2023 December 31, 2022 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Asset/Liability Type: HUF Funds - restricted cash (1) $ 1,507 $ — $ — $ 1,507 $ 161 $ — $ — $ 161 Demand Deposit (2) 1 — — 1 50 — — 50 Certificate of Deposit - Restricted (1) — 840 — 840 — 840 — 840 Acquisition Liability (3) — — 2,146 2,146 — — 838 838 Total $ 1,508 $ 840 $ 2,146 $ 4,494 $ 211 $ 840 $ 838 $ 1,889 (1) HUF Funds - restricted cash and Certificate of Deposit - Restricted are presented on the Restricted cash line item of the Company’s consolidated balance sheets and are valued at amortized cost, which approximates fair value. The increase was primarily driven by additional funds received in growth areas of several utilities. (2) Demand Deposit is presented on the Cash and cash equivalents line item of the Company’s consolidated balance sheets and is valued at amortized cost, which approximates fair value. (3) As part of the Red Rock acquisition, the Company is required to pay to the seller a growth premium equal to $750 (not in thousands) for each new account established within three specified growth premium areas, commencing in each area on the date of the first meter installation and ending on the earlier of ten years after such first installation date, or twenty years from the acquisition date. The fair value of the acquisition liability was calculated using a discounted cash flow technique which utilized unobservable inputs developed using the Company’s estimates and assumptions. Significant inputs used in the fair value calculation are as follows: year of the first meter installation, total new accounts per year, years to complete full build out, and discount rate. In addition, as part of the Farmers acquisition, the Company is required to pay the seller a growth premium equal to $1,000 (not in thousands) for each new account established in the service area, up to a total aggregate growth premium of $3.5 million. The obligation period of the growth premium commences on the closing date of the acquisition and ends ten years after the first new account for residential purposes is established on land that is, at the time of the closing date of the acquisition, undeveloped or unplatted and owned by the seller within the service area or ten years after the date of closing if a new account (as previously described) has not been established.

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of Outstanding Balances and Maturity Dates for Short Term and Long Term Debt	The outstanding balances and maturity dates for short-term (including the current portion of long-term debt) and long-term debt as of June 30, 2023 and December 31, 2022 are as follows (in thousands): June 30, 2023 December 31, 2022 Short-term Long-term Short-term Long-term BONDS AND NOTES PAYABLE - 4.380% Series A 2016, maturing June 2028 $ — 28,750 $ — $ 28,750 4.580% Series B 2016, maturing June 2036 3,833 74,750 3,833 76,667 3,833 103,500 3,833 105,417 OTHER Debt issuance costs — (449) — (472) Loan Payable 45 208 — — Total debt $ 3,878 $ 103,259 $ 3,833 $ 104,945
Schedule of Liabilities Measured on Recurring Basis	Debt is measured at fair value on a recurring basis as of June 30, 2023 and December 31, 2022 as follows (in thousands): June 30, 2023 December 31, 2022 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Long-term debt (3) — 101,287 — 101,287 — 103,611 — 103,611
Schedule of Aggregate Annual Maturities of Debt And Minimum Lease Payments Under Capital Lease Obligations	At June 30, 2023, the remaining aggregate annual maturities of debt obligations are as follows (in thousands): Debt 2023 (remaining period) $ 1,917 2024 3,836 2025 3,840 2026 3,843 2027 3,847 Thereafter 89,854 Subtotal 107,137 Less: amount representing interest — Total $ 107,137

Deferred Compensation Awards (T

Deferred Compensation Awards (Tables)	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Total Awards Granted, Number of Units Outstanding and Amounts Paid to PSU Holders	The following table details total awards granted and the number of units outstanding as of June 30, 2023, along with the amounts paid to holders of the phantom stock units (“PSUs”) and/or restricted stock units (“RSUs”) for the years ended June 30, 2023 and 2022 (in thousands, except unit amounts): Amounts Paid For the Three Months Ended June 30, Amounts Paid For the Six Months Ended June 30, Grant Date Units Granted Units Outstanding 2023 2022 2023 2022 Q1 2019 32,190 — $ — $ — $ — $ 45 Q1 2020 22,481 — — 30 — 61 Q1 2021 (1) 27,403 6,693 28 37 57 74 Q1 2022 (1) 22,262 12,986 23 30 48 30 Q1 2023 (1) 30,366 27,836 32 — 32 — Total 134,702 47,515 $ 83 $ 97 $ 137 $ 210 (1) Pursuant to the Global Water Resources, Inc. 2020 Omnibus Incentive Plan, effective May 7, 2020, long-term incentive awards are no longer granted in the form of PSUs and are granted as RSUs instead.
Schedule of Recipients of SARs Awards, Grant Date, Units Granted, Exercise Price, Outstanding Shares and Amounts Paid	The following table details the recipients of the stock appreciation rights (“SARs”) awards, the grant date, units granted, exercise price, outstanding units as of June 30, 2023 and amounts paid during the three and six months ended June 30, 2023 and 2022 (in thousands, except unit and per unit amounts): Amounts Paid For the Three Months Ended June 30, Amounts Paid For the Six Months Ended June 30, Recipients Grant Date Units Granted Exercise Price Units Outstanding 2023 2022 2023 2022 Members of Management (1)(2) Q1 2015 299,000 $ 4.26 45,500 — $ 165 $ 62 Members of Management (1)(3) Q3 2017 103,000 $ 9.40 17,000 — — — — Members of Management (1)(4) Q1 2018 33,000 $ 8.99 8,250 — — — — Total 435,000 70,750 $ — $ — $ 165 $ 62 (1) The SARs vest ratably over 16 quarters from the grant date. (2) The exercise price was determined to be the fair market value of one share of GWRC stock on the grant date of February 11, 2015. (3) The exercise price was determined to be the fair market value of one share of GWRI stock on the grant date of August 10, 2017. (4) The exercise price was determined to be the fair market value of one share of GWRI stock on the grant date of March 12, 2018.
Schedule of Estimated Future Compensation Expense	Based on GWRI’s closing share price on June 30, 2023 (the last trading date of the quarter), deferred compensation expense to be recognized over future periods is estimated for the years ending December 31 as follows (in thousands): RSUs / PSUs 2023 $ 161 2024 241 2025 124 Total $ 526

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	6 Months Ended
	Jun. 30, 2023
Supplemental Cash Flow Elements [Abstract]
Schedule of Supplemental Cash Flow Information	The following is supplemental cash flow information for the six months ended June 30, 2023 and 2022 (in thousands): For the Six Months Ended June 30, 2023 2022 Supplemental cash flow information: Cash paid for interest $ 127 $ 6 Non-cash financing and investing activities: Capital expenditures included in accounts payable and accrued liabilities $ 2,045 $ 2,406 Business acquisition through issuance of contingent consideration payable $ 1,330 $ —

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	A preliminary purchase price allocation of the net assets acquired in the transaction is as follows (in thousands): Net assets acquired: Cash $ 28 Accounts receivable 72 Property, plant and equipment 10,386 Construction work-in-progress 126 Prepaids 8 Intangibles (1) 7 Other taxes (35) Other accrued liabilities (44) Developer deposits (22) AIAC (1,481) CIAC (7,425) Total net assets assumed 1,620 Goodwill 5,956 Total purchase price $ 7,576 (1) Intangibles consist of franchise contract rights and organization costs. Refer to Note 7 — “Goodwill & Intangible Assets” for additional information regarding the intangibles.

Basis of Presentation, Corpor_4

Basis of Presentation, Corporate Transactions, Significant Accounting Policies, and Recent Accounting Pronouncements - Corporate Transactions (Details)						3 Months Ended	6 Months Ended
	Jun. 08, 2023 USD ($) $ / shares shares	Feb. 01, 2023 USD ($) mi² water_connection	Aug. 01, 2022 USD ($) $ / shares shares	Jul. 27, 2022 USD ($)	Jul. 14, 2015 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 27, 2023 utility
Accounting Policies [Abstract]
Number of regulated utilities that filed a rate case with the ACC | utility									7
Number of regulated utilities | utility									13
Number of regulated utilities filing rate applications as a percentage of active service connection									3%
Revenue recognition increase				$ 2,200,000
Phase-in period				2 years
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net proceeds							$ 2,748,000	$ 0
Growth premiums received						$ 500,000	$ 900,000	$ 1,600,000
Farmers Water Company
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of active water connections | water_connection		3,300
Square miles of approved service area | mi²		21.5
Growth premium receivable for each new water meter installed		$ 1,000
Maximum payout of growth premium receivable		3,500,000
Growth premiums received		$ 1,400,000
Valencia Water Company
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Growth premium receivable for each new water meter installed					$ 3,000,000
Period for maximum payout of growth premium receivable					20 years
Maximum payout of growth premium receivable					$ 45,000,000
Private Placement Offering
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of common stock to be issued and sold (in shares) | shares	230,000
Purchase price (in dollars per share) | $ / shares	$ 12.07
Gross proceeds from sale of stock	$ 2,800,000
Private Placement Offering | Affiliates
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of common stock issued (in shares) | shares	30,000
Public Offering
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Purchase price (in dollars per share) | $ / shares			$ 13.50
Number of common stock issued (in shares) | shares			1,150,000
Net proceeds			$ 14,900,000
Public Offering | Affiliates
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of common stock issued (in shares) | shares			652,000
Underwriter
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of common stock issued (in shares) | shares			150,000

Basis of Presentation, Corpor_5

Basis of Presentation, Corporate Transactions, Significant Accounting Policies, and Recent Accounting Pronouncements - Reconciliation of the Denominator Used in Basic and Diluted EPS Calculations (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Basic weighted average common shares outstanding (in shares)	23,958,205	22,686,559	23,914,866	22,667,990
Effect of dilutive securities (in shares)	81,000	180,000	119,000	208,000
Diluted weighted average common shares outstanding (in shares)	24,038,902	22,867,290	24,033,994	22,876,273
Antidilutive shares excluded from earnings per diluted share (in shares)	98,000	134,000	98,000	134,000
2017 Option grant | Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Effect of dilutive securities (in shares)	64,000	111,000	81,000	120,000
2019 Option grant | Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Effect of dilutive securities (in shares)	6,000	38,000	18,000	45,000
2020 Restricted stock awards | Restricted Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Effect of dilutive securities (in shares)	9,000	31,000	10,000	43,000
2021 Restricted stock awards | Restricted Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Effect of dilutive securities (in shares)	2,000	0	10,000	0

Regulatory Decision and Relat_3

Regulatory Decision and Related Accounting and Policy Changes - Additional Information (Details) $ in Thousands			6 Months Ended	12 Months Ended
	Jul. 27, 2022 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2021 USD ($)	Jul. 03, 2023 USD ($)	Jun. 27, 2023 utility	Dec. 31, 2022 USD ($)
Public Utilities, General Disclosures [Line Items]
Number of regulated utilities that filed a rate case with the ACC | utility						7
Number of regulated utilities | utility						13
Number of regulated utilities filing rate applications as a percentage of active service connection						3%
Approved collective revenue increase	$ 2,200
Carrying cost on regulatory liabilities and assets (in percent)				4.25%
Regulatory asset			$ 3,073				$ 3,169
Regulatory assets, amortization period		25 years
Write off of capitalized interest		$ 300
Percentage of hook up fee liability to be recorded on ICFA receipts			70%
Percentage of deferred revenue to be recorded on ICFA receipts			30%
Acquisition Premiums
Public Utilities, General Disclosures [Line Items]
Regulatory asset		800	$ 800
Tax Cuts and Jobs Act
Public Utilities, General Disclosures [Line Items]
Reversal of regulatory liabilities		800
Reduction to income tax expense		700
Decrease in interest expense		$ 100
Tax Cuts and Jobs Act | Santa Cruz
Public Utilities, General Disclosures [Line Items]
Aggregate annual revenue reductions				$ 415
Tax Cuts and Jobs Act | Palo Verde
Public Utilities, General Disclosures [Line Items]
Aggregate annual revenue reductions				669
Tax Cuts and Jobs Act | Tonopah
Public Utilities, General Disclosures [Line Items]
Aggregate annual revenue reductions				16
Tax Cuts and Jobs Act | Northern Scottsdale
Public Utilities, General Disclosures [Line Items]
Aggregate annual revenue reductions				$ 5
Water Plant | Subsequent Event
Public Utilities, General Disclosures [Line Items]
Cost of the plant					$ 38,400

Regulatory Decision and Relat_4

Regulatory Decision and Related Accounting and Policy Changes - Summary of Collective Revenue Requirement Phased-in Over Time (Details)	Jul. 27, 2022 USD ($)
Incremental
Incremental year one	$ 1,457,462
Incremental year two	675,814
Incremental year three	98,585
Cumulative
Cumulative year one	1,457,462
Cumulative year two	2,133,277
Cumulative year three	$ 2,231,861

Regulatory Decision and Relat_5

Regulatory Decision and Related Accounting and Policy Changes - Schedule of Regulatory Assets and Regulatory Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Oct. 24, 2022	Dec. 03, 2021
Regulatory Liability [Line Items]
Regulatory asset	$ 3,073	$ 3,169
Regulatory liability	6,361	6,371
Income taxes payable through future rates
Regulatory Liability [Line Items]
Regulatory liability	498	508
Acquired ICFAs
Regulatory Liability [Line Items]
Regulatory liability	5,863	5,863
Income taxes recoverable through future rates
Regulatory Liability [Line Items]
Regulatory asset	$ 1,442	1,482
Rate case expense surcharge
Regulatory Liability [Line Items]
Recovery Period	2 years		2 years
Regulatory asset	$ 346	467	$ 500
Acquisition premiums
Regulatory Liability [Line Items]
Recovery Period	25 years
Regulatory asset	$ 1,285	$ 1,220
Acquisition premiums | Rincon Water Company, Inc.
Regulatory Liability [Line Items]
Recovery Period				25 years
Regulatory asset	$ 500
Acquisition premiums | Turner Ranches Irrigation, Inc. and Red Rock Utilities Company
Regulatory Liability [Line Items]
Regulatory asset				$ 800

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Required payment period			15 days
Deferred revenue	$ 19,380		$ 19,380		$ 20,974
Disaggregation of Revenue [Line Items]
Total revenues	13,000	$ 11,707	26,128	$ 21,736
Unregulated Operation
Disaggregation of Revenue [Line Items]
Total revenues	0	5	2,268	5
ICFA revenues | Unregulated Operation
Disaggregation of Revenue [Line Items]
Total revenues	$ 0	$ 0	$ 2,268	$ 0

Revenue Recognition - Disagrega

Revenue Recognition - Disagregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Total revenues	$ 13,000	$ 11,707	$ 26,128	$ 21,736
Regulated Operation
Disaggregation of Revenue [Line Items]
Total revenues	13,000	11,702	23,860	21,731
Regulated Operation | Water Services
Disaggregation of Revenue [Line Items]
Total revenues	6,557	5,682	11,396	10,030
Regulated Operation | Water Services | Residential
Disaggregation of Revenue [Line Items]
Total revenues	4,470	3,893	8,361	7,292
Regulated Operation | Water Services | Irrigation
Disaggregation of Revenue [Line Items]
Total revenues	983	982	1,347	1,329
Regulated Operation | Water Services | Commercial
Disaggregation of Revenue [Line Items]
Total revenues	434	329	726	612
Regulated Operation | Water Services | Construction
Disaggregation of Revenue [Line Items]
Total revenues	373	219	500	340
Regulated Operation | Water Services | Other water revenues
Disaggregation of Revenue [Line Items]
Total revenues	297	259	462	457
Regulated Operation | Wastewater and recycled water services
Disaggregation of Revenue [Line Items]
Total revenues	6,443	6,020	12,464	11,701
Regulated Operation | Wastewater and recycled water services | Residential
Disaggregation of Revenue [Line Items]
Total revenues	5,562	5,228	11,094	10,370
Regulated Operation | Wastewater and recycled water services | Commercial
Disaggregation of Revenue [Line Items]
Total revenues	301	258	589	527
Regulated Operation | Wastewater and recycled water services | Recycled water revenues
Disaggregation of Revenue [Line Items]
Total revenues	473	427	593	589
Regulated Operation | Wastewater and recycled water services | Other wastewater revenues
Disaggregation of Revenue [Line Items]
Total revenues	107	107	188	215
Unregulated Operation
Disaggregation of Revenue [Line Items]
Total revenues	0	5	2,268	5
Unregulated Operation | ICFA revenues
Disaggregation of Revenue [Line Items]
Total revenues	0	0	2,268	0
Unregulated Operation | Rental revenues
Disaggregation of Revenue [Line Items]
Total revenues	$ 0	$ 5	$ 0	$ 5

Revenue Recognition - Contract

Revenue Recognition - Contract Balances (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Capitalized Contract Cost [Line Items]
Accounts receivable	$ 3,260	$ 2,303
Deferred revenue - ICFA	19,380	20,974
Total contract liabilities	19,380	20,974
Water services
Capitalized Contract Cost [Line Items]
Accounts receivable	2,170	1,179
Wastewater and recycled water services
Capitalized Contract Cost [Line Items]
Accounts receivable	$ 1,090	$ 1,124

Leases - Additional Information

Leases - Additional Information (Details) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended	24 Months Ended	36 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2022 lease	Apr. 30, 2027 USD ($)	Apr. 30, 2025 USD ($)	Jan. 31, 2022	Dec. 31, 2021
Lessee, Lease, Description [Line Items]
Number of finance leases entered into | lease					9
Finance lease term								5 years
Operating lease term									5 years
Operating leases rent expense	$ 98	$ 71	$ 195	$ 127
Subsequent Event | Forecast
Lessee, Lease, Description [Line Items]
Operating leases monthly rental expense related to new agreement						$ 41,572	$ 23,750
Minimum
Lessee, Lease, Description [Line Items]
Finance lease term					48 months
Maximum
Lessee, Lease, Description [Line Items]
Finance lease term					60 months

Leases - Schedule of Right-of-U

Leases - Schedule of Right-of-Use Assets and Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Right-of-use assets
Financing Lease	$ 371	$ 405
Operating Lease	1,346	1,486
Total	1,717	1,891
Lease liabilities
Financing Lease	493	597
Operating Lease	1,424	1,524
Total	$ 1,917	$ 2,121
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Total	Total
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Total	Total
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Leases — current portion, Long-term lease liabilities	Leases — current portion, Long-term lease liabilities
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Leases — current portion, Long-term lease liabilities	Leases — current portion, Long-term lease liabilities

Leases - Remaining Aggregate An

Leases - Remaining Aggregate Annual Minimum Lease Payments (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Finance Lease Obligations
2023 (remaining period)	$ 105
2024	172
2025	143
2026	97
2027	8
Thereafter	0
Subtotal	525
Less: amount representing interest	(32)
Total	493	$ 597
Operating Lease Obligations
2023 (remaining period)	147
2024	295
2025	431
2026	499
2027	166
Thereafter	0
Subtotal	1,538
Less: amount representing interest	(114)
Total	$ 1,424	$ 1,524

Property, Plant and Equipment -

Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Depreciable property, plant and equipment	$ 378,190	$ 344,043
Equipment
Property, Plant and Equipment [Line Items]
Depreciable property, plant and equipment	$ 58,098	55,178
Equipment | Minimum
Property, Plant and Equipment [Line Items]
Useful life	3 years
Equipment | Maximum
Property, Plant and Equipment [Line Items]
Useful life	30 years
Office buildings and other structures
Property, Plant and Equipment [Line Items]
Depreciable property, plant and equipment	$ 56,958	54,647
Useful life	30 years
Transmission and distribution plant
Property, Plant and Equipment [Line Items]
Depreciable property, plant and equipment	$ 263,134	$ 234,218
Transmission and distribution plant | Minimum
Property, Plant and Equipment [Line Items]
Useful life	10 years
Transmission and distribution plant | Maximum
Property, Plant and Equipment [Line Items]
Useful life	50 years

Accounts Receivable - Summary o

Accounts Receivable - Summary of Accounts Receivable (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Receivables [Abstract]
Billed receivables	$ 3,260	$ 2,303
Less provision for credit losses	(199)	(164)
Accounts receivable — net	$ 3,061	$ 2,139

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Additional Information (Details) - USD ($)		3 Months Ended		6 Months Ended
	Feb. 01, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill		$ 10,913,000		$ 10,913,000		$ 4,957,000
Indefinite-lived Intangible Assets [Line Items]
Goodwill		10,913,000		10,913,000		4,957,000
Regulatory asset		3,073,000		3,073,000		$ 3,169,000
Goodwill, acquired during period				5,956,000
Amortization of intangible assets		0	$ 0	0	$ 0
Farmers Water Company
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 5,956,000
Indefinite-lived Intangible Assets [Line Items]
Goodwill	5,956,000
Goodwill, acquired during period	$ 6,000,000
Acquisition Premiums
Indefinite-lived Intangible Assets [Line Items]
Regulatory asset		$ 800,000	$ 800,000	$ 800,000	$ 800,000

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Goodwill [Roll Forward]
December 31, 2022 Balance	$ 4,957
Acquisition Activity	5,956
Adjustments Subsequent to Acquisition Date	0
June 30, 2023 Balance	$ 10,913

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
INDEFINITE LIVED INTANGIBLE ASSETS:
Indefinite lived intangible assets	$ 1,771	$ 1,764
DEFINITE LIVED INTANGIBLE ASSETS:
Gross Amount	25,384	25,384
Accumulated Amortization	(17,009)	(17,009)
Net Amount	8,375	8,375
Total intangible assets, Gross Amount	27,155	27,148
Total intangible assets, Net Amount	10,146	10,139
Acquired ICFAs
DEFINITE LIVED INTANGIBLE ASSETS:
Gross Amount	17,978	17,978
Accumulated Amortization	(14,785)	(14,785)
Net Amount	3,193	3,193
Sonoran contract rights
DEFINITE LIVED INTANGIBLE ASSETS:
Gross Amount	7,406	7,406
Accumulated Amortization	(2,224)	(2,224)
Net Amount	5,182	5,182
CP Water Certificate of Convenience & Necessity service area
INDEFINITE LIVED INTANGIBLE ASSETS:
Indefinite lived intangible assets	1,532	1,532
Intangible trademark
INDEFINITE LIVED INTANGIBLE ASSETS:
Indefinite lived intangible assets	13	13
Franchise contract rights
INDEFINITE LIVED INTANGIBLE ASSETS:
Indefinite lived intangible assets	139	132
Organizational costs
INDEFINITE LIVED INTANGIBLE ASSETS:
Indefinite lived intangible assets	$ 87	$ 87

Transactions With Related Par_2

Transactions With Related Parties - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Affiliates
Related Party Transaction [Line Items]
Medical claims paid	$ 0.2	$ 0.2	$ 0.3	$ 0.3

Accrued Expenses - Schedule of

Accrued Expenses - Schedule of Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrued project liabilities	$ 1,350	$ 1,585
Property taxes	1,244	1,195
Asset retirement obligations	697	697
Customer prepayments	667	588
Accrued Bonus	642	557
Dividend payable	600	593
Deferred compensation	593	818
Interest	482	483
Other taxes	476	0
Accrued professional fees	358	60
Accrued sales taxes	206	152
Accrued payroll	0	0
Other accrued liabilities	1,066	1,328
Total accrued expenses	$ 8,381	$ 8,056

Fair Value (Details)

Fair Value (Details) - USD ($)		6 Months Ended
	Feb. 01, 2023	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Demand deposit		$ 1,000	$ 50,000
Acquisition liability		2,146,000	838,000
Total net asset (liability)		4,494,000	1,889,000
Farmers Water Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Growth premium receivable for each new water meter installed	$ 1,000
Maximum payout of growth premium receivable	$ 3,500,000
Growth premium, obligation period	10 years
Red Rock Utilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Growth premium payable		$ 750
Period for maximum payout of growth premium after first meter install (in years)		10 years
Period for maximum payout of growth premium after acquisition date		20 years
HUF funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted cash		$ 1,507,000	161,000
Certificates of deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted cash		840,000	840,000
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Demand deposit		1,000	50,000
Acquisition liability		0	0
Total net asset (liability)		1,508,000	211,000
Level 1 | HUF funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted cash		1,507,000	161,000
Level 1 | Certificates of deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted cash		0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Demand deposit		0	0
Acquisition liability		0	0
Total net asset (liability)		840,000	840,000
Level 2 | HUF funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted cash		0	0
Level 2 | Certificates of deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted cash		840,000	840,000
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Demand deposit		0	0
Acquisition liability		2,146,000	838,000
Total net asset (liability)		2,146,000	838,000
Level 3 | HUF funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted cash		0	0
Level 3 | Certificates of deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted cash		$ 0	$ 0

Debt - Schedule of Outstanding

Debt - Schedule of Outstanding Balances and Maturity Dates for Short Term and Long Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jun. 24, 2016
Short-term
Bonds and notes payable	$ 3,878	$ 3,833
Loan Payable	45	0
Total debt	3,878	3,833
Long-term
Loan Payable	208	0
Total debt	103,259	104,945
Senior Notes
Debt Instrument [Line Items]
Debt instrument, interest rate			4.55%
Short-term
Bonds and notes payable	3,833	3,833
Debt issuance costs	0	0
Long-term
Bonds and notes payable	103,500	105,417
Debt issuance costs	$ (449)	(472)
Senior Notes | Series A Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	4.38%		4.38%
Short-term
Bonds and notes payable	$ 0	0
Long-term
Bonds and notes payable	$ 28,750	28,750
Senior Notes | Series B Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	4.58%		4.58%
Short-term
Bonds and notes payable	$ 3,833	3,833
Long-term
Bonds and notes payable	$ 74,750	$ 76,667

Debt - Schedule of Liabilities

Debt - Schedule of Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Long-term debt	$ 101,287	$ 103,611
Level 1
Debt Instrument [Line Items]
Long-term debt	0	0
Level 2
Debt Instrument [Line Items]
Long-term debt	101,287	103,611
Level 3
Debt Instrument [Line Items]
Long-term debt	$ 0	$ 0

Debt - Additional Information (

Debt - Additional Information (Details)				33 Months Ended
	Jun. 28, 2023	Apr. 30, 2020 USD ($)	Jun. 24, 2016 USD ($) debt_instrument	Mar. 31, 2024	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jul. 26, 2022 USD ($)
Debt Instrument [Line Items]
Outstanding borrowings					$ 6,765,000	$ 0
Unamortized debt issuance costs					$ 6,000	$ 9,812
Northern Trust Loan Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Facility fee on unused amount of line of credit (as a percent)	0.35%
Senior Notes
Debt Instrument [Line Items]
Number of debt instruments | debt_instrument			2
Debt instrument, face amount			$ 115,000,000
Debt instrument, interest rate			4.55%
Debt service coverage ratio			110%
Debt service coverage ratio limiting dividend payment			125%
Future debt service coverage ratio			120%
Debt service coverage ratio for dividend payments			1.25
Senior Notes | Series A Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument, face amount			$ 28,800,000
Debt instrument, interest rate			4.38%		4.38%
Debt instrument, term			12 years
Senior Notes | Series B Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument, face amount			$ 78,600,000
Debt instrument, interest rate			4.58%		4.58%
Debt instrument, term			20 years
Debt Instrument, principal payments			$ 1,900,000
Line of Credit | Northern Trust Loan Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, term		2 years
Debt service coverage ratio	110%
Revolving line of credit, maximum borrowing capacity		$ 10,000,000					$ 15,000,000
Line of Credit | Northern Trust Loan Agreement | Revolving Credit Facility | Forecast | Subsequent Event
Debt Instrument [Line Items]
Debt service coverage ratio				120%
Line of Credit | Northern Trust Loan Agreement | Revolving Credit Facility | Northern Trust
Debt Instrument [Line Items]
Debt service coverage ratio	125%
Line of Credit | Northern Trust Loan Agreement | Revolving Credit Facility | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		2%

Debt - Schedule of Aggregate An

Debt - Schedule of Aggregate Annual Maturities of Debt (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Debt
2023 (remaining period)	$ 1,917
2024	3,836
2025	3,840
2026	3,843
2027	3,847
Thereafter	89,854
Total	$ 107,137

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income tax expense	$ (731)	$ 150	$ (1,596)	$ (193)
Pre-tax income	$ 2,470	1,957	$ 5,801	3,189
Current tax expense		500
Reversal of regulatory liability		700		$ 700
Net tax benefit from reversal of regulatory liability		$ 200

Deferred Compensation Awards -

Deferred Compensation Awards - Additional Information (Details) - USD ($)	1 Months Ended		3 Months Ended		6 Months Ended
	Aug. 31, 2019	Aug. 31, 2017	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			$ 29,000	$ 45,000	$ 72,000	$ 90,000
PSUs/ RSUs and SARs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			100,000	(100,000)
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			$ 300,000	$ 300,000	$ 500,000	$ 700,000
Units granted (in shares)			0	0
Restricted Stock | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period					2 years
Restricted Stock | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period					3 years
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period					3 years
2017 Option grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, options granted (in shares)		465,000
Split-adjusted exercise price of options (in dollars per share)		$ 9.40
Award vesting period					4 years
Expiration period					10 years
Fair value of the stock option expense					$ 1,100,000
Options exercised (in shares)					127,454
Options forfeited (in shares)					64,625
Number of options outstanding (in shares)			268,321		268,321
2017 Option grant | Vesting In August 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage					25%
2017 Option grant | Vesting In August 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage					25%
2017 Option grant | Vesting In August 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage					25%
2017 Option grant | Vesting In August 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage					25%
2019 Option grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, options granted (in shares)	250,000
Split-adjusted exercise price of options (in dollars per share)	$ 11.26
Expiration period					10 years
Fair value of the stock option expense					$ 800,000
Options exercised (in shares)					42,217
Options forfeited (in shares)					28,782
Number of options outstanding (in shares)			179,001		179,001
2019 Option grant | Vesting In August 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period					4 years
Vesting percentage					25%
2019 Option grant | Vesting In August 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage					25%
2019 Option grant | Vesting In August 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage					25%
2019 Option grant | Vesting In August 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage					25%

Deferred Compensation Awards _2

Deferred Compensation Awards - Schedule of Total Awards Granted and Number of Units Outstanding (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units Outstanding (in shares)	47,515		47,515
Amounts Paid	$ 83	$ 97	$ 137	$ 210
Phantom stock/Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units Granted (in shares)			134,702
Phantom stock/Restricted stock units | Q1 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units Granted (in shares)			32,190
Amounts Paid				45
Phantom stock/Restricted stock units | Q1 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units Granted (in shares)			22,481
Amounts Paid		30		61
Phantom stock/Restricted stock units | Q1 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units Granted (in shares)			27,403
Units Outstanding (in shares)	6,693		6,693
Amounts Paid	$ 28	37	$ 57	74
Phantom stock/Restricted stock units | Q1 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units Granted (in shares)			22,262
Units Outstanding (in shares)	12,986		12,986
Amounts Paid	$ 23	$ 30	$ 48	$ 30
Phantom stock/Restricted stock units | Q1 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units Granted (in shares)			30,366
Units Outstanding (in shares)	27,836		27,836
Amounts Paid	$ 32		$ 32

Deferred Compensation Awards _3

Deferred Compensation Awards - Schedule of Recipients of SARs Awards, Grant Date, Units Granted, Exercise Price, Outstanding Shares and Amounts Paid (Details) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($) shares	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) qtr $ / shares shares	Jun. 30, 2022 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units Outstanding (in shares)	47,515		47,515
Amounts Paid | $	$ 83	$ 97	$ 137	$ 210
Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units Granted (in shares)			435,000
Units Outstanding (in shares)	70,750		70,750
Amounts Paid | $	$ 0	0	$ 165	62
Number of periods the award will vest | qtr			16
Stock Appreciation Rights (SARs) | Q1 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units Granted (in shares)			299,000
Exercise Price (in dollars per share) | $ / shares			$ 4.26
Units Outstanding (in shares)	45,500		45,500
Amounts Paid | $		0	$ 165	62
Stock Appreciation Rights (SARs) | Q3 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units Granted (in shares)			103,000
Exercise Price (in dollars per share) | $ / shares			$ 9.40
Units Outstanding (in shares)	17,000		17,000
Amounts Paid | $	$ 0	0	$ 0	0
Stock Appreciation Rights (SARs) | Q1 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units Granted (in shares)			33,000
Exercise Price (in dollars per share) | $ / shares			$ 8.99
Units Outstanding (in shares)	8,250		8,250
Amounts Paid | $	$ 0	$ 0	$ 0	$ 0

Deferred Compensation Awards _4

Deferred Compensation Awards - Schedule of Estimated Future Compensation Expense (Details) - RSUs / PSUs $ in Thousands	Jun. 30, 2023 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
2023	$ 161
2024	241
2025	124
Total	$ 526

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information - Schedule of Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Supplemental Cash Flow Elements [Abstract]
Cash paid for interest	$ 127	$ 6
Non-cash financing and investing activities:
Capital expenditures included in accounts payable and accrued liabilities	2,045	2,406
Business acquisition through issuance of contingent consideration payable	$ 1,330	$ 0

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details)		3 Months Ended	6 Months Ended
	Feb. 01, 2023 USD ($) mi² water_connection	Jun. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)
Business Acquisition [Line Items]
Growth premiums received		$ 500,000	$ 900,000	$ 1,600,000
Farmers Water Company
Business Acquisition [Line Items]
Business combination, consideration transferred	$ 7,600,000
Purchase price	6,200,000
Growth premiums received	$ 1,400,000
Number of active water connections | water_connection	3,300
Square miles of approved service area | mi²	21.5
Growth premium receivable for each new water meter installed	$ 1,000
Maximum payout of growth premium receivable	$ 3,500,000
Growth premium, obligation period	10 years

Acquisitions - Schedule of Reco

Acquisitions - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Feb. 01, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Goodwill	$ 10,913		$ 4,957
Farmers Water Company
Business Acquisition [Line Items]
Cash		$ 28
Accounts receivable		72
Property, plant and equipment		10,386
Construction work-in-progress		126
Prepaids		8
Intangibles		7
Other taxes		(35)
Other accrued liabilities		(44)
Developer deposits		(22)
AIAC		(1,481)
CIAC		(7,425)
Total net assets assumed		1,620
Goodwill		5,956
Total purchase price		$ 7,576

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Thousands	Oct. 16, 2018 USD ($)
Red Rock Utilities
Loss Contingencies [Line Items]
Growth premium receivable for each new water meter installed	$ 750