SJW (SJW) 10-Q 31 Jul 23 2023 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2023	Jul. 25, 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	1-8966
Entity Registrant Name	SJW GROUP
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	77-0066628
Entity Address, Address Line One	110 West Taylor Street,
Entity Address, City or Town	San Jose,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95110
City Area Code	(408)
Local Phone Number	279-7800
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	SJW
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		31,768,933
Entity Central Index Key	0000766829
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
REVENUE	$ 156,886	$ 149,041	$ 294,182	$ 273,343
Production Expenses:
Purchased water	32,592	26,352	55,010	45,569
Power	2,379	3,394	4,578	6,474
Groundwater extraction charges	14,994	18,360	25,353	32,288
Other production expenses	11,921	11,596	23,964	21,719
Total production expenses	61,886	59,702	108,905	106,050
Administrative and general	23,527	23,260	47,871	47,465
Maintenance	6,298	6,891	12,356	13,586
Property taxes and other non-income taxes	7,896	7,579	16,297	15,888
Depreciation and amortization	26,121	25,207	52,417	52,813
Gain on sale of nonutility property	0	0	0	(5,450)
Total operating expense	125,728	122,639	237,846	230,352
OPERATING INCOME	31,158	26,402	56,336	42,991
OTHER (EXPENSE) INCOME:
Interest on long-term debt and other interest expense	(16,397)	(14,241)	(32,169)	(27,970)
Pension non-service cost	(102)	941	(166)	1,890
Other, net	2,115	824	5,381	1,819
Income before income taxes	16,774	13,926	29,382	18,730
Provision for income taxes	(1,512)	2,368	(434)	3,435
NET INCOME	18,286	11,558	29,816	15,295
Other comprehensive income (loss), net	9	(248)	102	(429)
COMPREHENSIVE INCOME	$ 18,295	$ 11,310	$ 29,918	$ 14,866
EARNINGS PER SHARE
Basic (usd per share)	$ 0.58	$ 0.38	$ 0.96	$ 0.51
Diluted (usd per share)	0.58	0.38	0.95	0.50
DIVIDENDS PER SHARE (usd per share)	$ 0.38	$ 0.36	$ 0.76	$ 0.72
WEIGHTED AVERAGE SHARES OUTSTANDING
Basic (shares)	31,499,068	30,244,511	31,219,324	30,234,381
Diluted (shares)	31,594,494	30,346,040	31,319,248	30,341,065

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Utility plant:
Land	$ 41,386	$ 39,982
Depreciable plant and equipment	3,761,749	3,661,285
Construction in progress	141,179	116,851
Intangible assets	35,947	35,959
Total utility plant	3,980,261	3,854,077
Less accumulated depreciation and amortization	1,277,102	1,223,760
Net utility plant	2,703,159	2,630,317
Real estate investments and nonutility properties	1,388	58,033
Less accumulated depreciation and amortization	191	17,158
Net real estate investments and nonutility properties	1,197	40,875
CURRENT ASSETS:
Cash and cash equivalents	25,474	12,344
Accounts receivable:
Customers, net of allowances for uncollectible accounts of $6,414 and $5,753 on June 30, 2023 and December 31, 2022, respectively	58,545	59,172
Other	4,814	5,560
Accrued unbilled utility revenue	50,555	45,722
Assets held for sale	40,850	0
Prepaid expenses	9,152	9,753
Current regulatory assets, net	5,968	16,068
Other current assets	6,075	6,095
Total current assets	201,433	154,714
OTHER ASSETS:
Net regulatory assets, less current portion	130,009	127,275
Investments	16,136	14,819
Goodwill	640,311	640,311
Other	19,913	24,313
Total other assets	806,369	806,718
Total assets	3,712,158	3,632,624
Stockholders’ equity:
Common stock, $0.001 par value; authorized 70,000,000 shares; issued and outstanding shares 31,731,030 on June 30, 2023 and 30,801,912 on December 31, 2022	32	31
Additional paid-in capital	716,642	651,004
Retained earnings	464,464	458,356
Accumulated other comprehensive income	1,578	1,477
Total stockholders’ equity	1,182,716	1,110,868
Long-term debt, less current portion	1,519,281	1,491,965
Capitalization, long-term debt and equity	2,701,997	2,602,833
CURRENT LIABILITIES:
Lines of credit	83,310	159,578
Current portion of long-term debt	44,328	4,360
Accrued groundwater extraction charges, purchased water and power	23,006	19,707
Accounts payable	36,446	29,581
Accrued interest	15,680	13,907
Accrued payroll	10,011	11,908
Income tax payable	4,604	2,696
Other current liabilities	20,569	22,913
Total current liabilities	237,954	264,650
DEFERRED INCOME TAXES	228,976	218,155
ADVANCES FOR CONSTRUCTION	140,005	137,696
CONTRIBUTIONS IN AID OF CONSTRUCTION	327,280	323,668
POSTRETIREMENT BENEFIT PLANS	53,001	59,738
OTHER NONCURRENT LIABILITIES	22,945	25,884
COMMITMENTS AND CONTINGENCIES
Total capitalization and liabilities	$ 3,712,158	$ 3,632,624

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
CURRENT ASSETS:
Allowance for uncollectible accounts	$ 6,414	$ 5,753
CAPITALIZATION:
Common stock, par value (usd per share)	$ 0.001	$ 0.001
Common stock, shares authorized (shares)	70,000,000	70,000,000
Common stock, shares issued (shares)	31,731,030	30,801,912
Common stock, shares outstanding (shares)	31,731,030	30,801,912

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at Dec. 31, 2021		30,181,348
Beginning balance at Dec. 31, 2021	$ 1,034,519	$ 30	$ 606,392	$ 428,260	$ (163)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	3,737			3,737
Unrealized gain (loss) on investment, net of taxes	(181)				(181)
Stock-based compensation	1,532		1,552	(20)
Issuance of restricted and deferred stock units (in shares)		37,879
Issuance of restricted and deferred stock units	(1,269)		(1,269)
Employee stock purchase plan (in shares)		17,918
Employee stock purchase plan	1,049		1,049
Common stock issuance, net of costs	(87)		(87)
Dividends paid	(10,882)			(10,882)
Ending balance (in shares) at Mar. 31, 2022		30,237,145
Ending balance at Mar. 31, 2022	1,028,418	$ 30	607,637	421,095	(344)
Beginning balance (in shares) at Dec. 31, 2021		30,181,348
Beginning balance at Dec. 31, 2021	1,034,519	$ 30	606,392	428,260	(163)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	15,295
Ending balance (in shares) at Jun. 30, 2022		30,247,674
Ending balance at Jun. 30, 2022	1,029,845	$ 30	608,666	421,741	(592)
Beginning balance (in shares) at Mar. 31, 2022		30,237,145
Beginning balance at Mar. 31, 2022	1,028,418	$ 30	607,637	421,095	(344)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	11,558			11,558
Unrealized gain (loss) on investment, net of taxes	(248)				(248)
Stock-based compensation	1,018		1,041	(23)
Issuance of restricted and deferred stock units (in shares)		10,529
Issuance of restricted and deferred stock units	(6)		(6)
Common stock issuance, net of costs	(6)		(6)
Dividends paid	(10,889)			(10,889)
Ending balance (in shares) at Jun. 30, 2022		30,247,674
Ending balance at Jun. 30, 2022	$ 1,029,845	$ 30	608,666	421,741	(592)
Beginning balance (in shares) at Dec. 31, 2022	30,801,912	30,801,912
Beginning balance at Dec. 31, 2022	$ 1,110,868	$ 31	651,004	458,356	1,477
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	11,530			11,530
Unrealized gain (loss) on investment, net of taxes	93				93
Stock-based compensation	1,177		1,199	(22)
Issuance of restricted and deferred stock units (in shares)		38,776
Issuance of restricted and deferred stock units	(1,538)		(1,538)
Employee stock purchase plan (in shares)		16,410
Employee stock purchase plan	1,080		1,080
Common stock issuance, net of costs (in shares)		570,026
Common stock issuance, net of costs	40,997		40,997
Dividends paid	(11,722)			(11,722)
Ending balance (in shares) at Mar. 31, 2023		31,427,124
Ending balance at Mar. 31, 2023	$ 1,152,485	$ 31	692,742	458,142	1,570
Beginning balance (in shares) at Dec. 31, 2022	30,801,912	30,801,912
Beginning balance at Dec. 31, 2022	$ 1,110,868	$ 31	651,004	458,356	1,477
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 29,816
Ending balance (in shares) at Jun. 30, 2023	31,731,030	31,731,030
Ending balance at Jun. 30, 2023	$ 1,182,716	$ 32	716,642	464,464	1,578
Beginning balance (in shares) at Mar. 31, 2023		31,427,124
Beginning balance at Mar. 31, 2023	1,152,485	$ 31	692,742	458,142	1,570
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	18,286			18,286
Unrealized gain (loss) on investment, net of taxes	8				8
Stock-based compensation	1,122		1,139	(17)
Issuance of restricted and deferred stock units (in shares)		13,429
Issuance of restricted and deferred stock units	(20)		(20)
Common stock issuance, net of costs (in shares)		290,477
Common stock issuance, net of costs	22,782	$ 1	22,781
Dividends paid	$ (11,947)			(11,947)
Ending balance (in shares) at Jun. 30, 2023	31,731,030	31,731,030
Ending balance at Jun. 30, 2023	$ 1,182,716	$ 32	$ 716,642	$ 464,464	$ 1,578

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022
Statement of Stockholders' Equity [Abstract]
Unrealized income (loss) on investment, tax expense (benefit)	$ (37)	$ 0	$ 0	$ 67
Dividends per share (usd per share)	$ 0.38	$ 0.38	$ 0.36	$ 0.36

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
OPERATING ACTIVITIES:
Net income	$ 29,816	$ 15,295
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	53,510	53,830
Deferred income taxes	8,706	2,239
Stock-based compensation	2,338	2,593
Allowance for equity funds used during construction	(1,111)	(1,084)
Gain on sale of nonutility property	0	(5,450)
Changes in operating assets and liabilities:
Accounts receivable and accrued unbilled utility revenue	(3,687)	(8,487)
Accounts payable and other current liabilities	(107)	(1,158)
Accrued groundwater extraction charges, purchased water and power	3,300	7,598
Tax receivable and payable, and other accrued taxes	(3,367)	(22)
Postretirement benefits	(628)	459
Regulatory assets and liabilities excluding income tax temporary differences, net and postretirement benefits	12,142	17,284
Other changes, net	(3,548)	501
NET CASH PROVIDED BY OPERATING ACTIVITIES	97,364	83,598
INVESTING ACTIVITIES:
Company-funded	(115,749)	(101,611)
Contributions in aid of construction	(9,287)	(13,332)
Additions to real estate investments	0	(546)
Payments to retire utility plant, net of salvage	(468)	(1,836)
Proceeds from sale of nonutility properties	0	227
Other changes, net	125	(33)
NET CASH USED IN INVESTING ACTIVITIES	(125,379)	(117,131)
FINANCING ACTIVITIES:
Borrowings on line of credit	39,828	88,664
Repayments on line of credit	(116,095)	(10,324)
Long-term borrowings	70,000	15,000
Repayments of long-term borrowings	(1,560)	(51,612)
Issuance of common stock, net of issuance costs	63,779	0
Dividends paid	(23,669)	(21,771)
Receipts of advances and contributions in aid of construction	11,047	15,769
Refunds of advances for construction	(1,341)	(1,345)
Other changes, net	(844)	(316)
NET CASH PROVIDED BY FINANCING ACTIVITIES	41,145	34,065
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	13,130	532
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD	12,344	12,119
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD	25,474	12,651
LESS RESTRICTED CASH, END OF PERIOD	0	602
Cash and cash equivalents	25,474	12,049
Cash paid during the period for:
Interest	31,656	30,189
Income taxes	655	458
Supplemental disclosure of non-cash activities:
Accrued payables for additions to utility plant	27,580	18,502
Utility property installed by developers	$ 938	$ 1,066

General

General	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
General	General In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments (consisting only of normal, recurring adjustments) necessary for a fair presentation of the results for the interim periods. The unaudited interim financial information has been prepared in accordance with accounting principles generally accepted in the United States of America and in accordance with the instructions for Form 10-Q and Rule 10-01 of Regulation S-X promulgated by the Securities and Exchange Commission. The Notes to Consolidated Financial Statements in SJW Group’s 2022 Annual Report on Form 10-K should be read with the accompanying unaudited condensed consolidated financial statements. SJW Group is a holding company with five wholly-owned subsidiaries: San Jose Water Company (“SJWC”), SJWNE LLC, SJWTX, Inc., SJW Land Company, and SJWTX Holdings, Inc. SJWNE LLC is the holding company for Connecticut Water Service, Inc. (“CTWS”) whose wholly-subsidiaries are The Connecticut Water Company (“Connecticut Water”), The Maine Water Company (“Maine Water”), New England Water Utility Services, Inc. (“NEWUS”), and Chester Realty, Inc. SJWTX Holdings, Inc. is a holding company that was formed with the purpose of effecting a corporate reorganization of our water utility operations in Texas. Texas Water Resources, LLC was formed as a subsidiary of SJWTX Holdings, Inc. to hold future wholesale water supply assets. SJWC, Connecticut Water, SJWTX, Inc. doing business as The Texas Water Company (“Texas Water”), Maine Water and NEWUS are referred to as “Water Utility Services”. SJW Land Company and Chester Realty, Inc. are collectively referred to as “Real Estate Services.” Revenue Water sales are seasonal in nature and influenced by weather conditions. The timing of precipitation and climatic conditions can cause seasonal water consumption by customers to vary significantly. Due to the seasonal nature of the water business, the operating results for interim periods are not indicative of the operating results for a 12-month period. Revenue is generally higher in the warm, dry summer months when water usage and sales are greater, and lower in the winter months when cooler temperatures and increased precipitation curtail water usage resulting in lower sales. The major streams of revenue for SJW Group are as follows: Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 Revenue from contracts with customers $ 159,724 148,657 $ 295,560 270,434 Alternative revenue programs, net (2,204) (2,982) (3,595) (4,909) Other balancing and memorandum accounts, net (1,617) 2,432 178 4,862 Other regulatory mechanisms, net (433) (432) (824) 234 Rental income 1,416 1,366 2,863 2,722 $ 156,886 149,041 $ 294,182 273,343 Real Estate Investments and Nonutility Properties The major components of real estate investments and nonutility properties as of June 30, 2023 and December 31, 2022, are as follows: June 30, December 31, Land $ 918 12,615 Buildings and improvements 470 45,418 Subtotal 1,388 58,033 Less: accumulated depreciation and amortization 191 17,158 Total $ 1,197 40,875 In March 2023, SJW Land Company entered into a broker agreement to sell its warehouse buildings and land property located in Knoxville, Tennessee. The company reclassified the Tennessee properties from held-and-used to held-for-sale at March 31, 2023. The company’s intention is to complete the sale of these assets within a twelve month period. The company recorded the Tennessee properties at the lower of their carrying value or estimated fair value less cost to sell, and also stopped recording depreciation on assets held for sale. The company's broker provided the estimated fair value of the Tennessee properties. The estimated costs to sell was subtracted to estimate the fair value. The resulting net fair value of the Tennessee properties exceeded their carrying value, and accordingly no impairment was recorded. The sale of the Tennessee properties does not represent a strategic shift that has or will have a major effect on SJW Group; therefore, the sale does not qualify for treatment as a discontinued operation. The Tennessee warehouse buildings and land property is included in SJW Group’s “Real Estate Services” reportable segment in Note 9 , “Segment and Non-Tariffed Business Reporting”. The following represents the major components of the Tennessee warehouse building and land property recorded in assets held-for-sale on the condensed consolidated balance sheets as of June 30, 2023: June 30, Land $ 13,170 Buildings and improvements 44,950 Subtotal 58,120 Less: accumulated depreciation and amortization 17,270 Total $ 40,850 On February 15, 2022, the California Public Utilities Commission (“CPUC”) review on a SJWC nonutility property sold in October 2021 was completed and the deferred gain of $5,442 was recognized as gain on sale in the first quarter of 2022. Fair Value Measurement The following instruments are not measured at fair value on SJW Group’s condensed consolidated balance sheets as of June 30, 2023, but require disclosure of their fair values: cash and cash equivalents, accounts receivable and accounts payable. The estimated fair value of such instruments as of June 30, 2023, approximates their carrying value as reported on the condensed consolidated balance sheets. There have been no changes in valuation techniques during the three and six months ended June 30, 2023. The fair value of these instruments would be categorized as Level 2 in the fair value hierarchy, with the exception of cash and cash equivalents, which would be categorized as Level 1. The fair value of SJW Group’s long-term debt was $1,354,865 and $1,294,354 as of June 30, 2023 and December 31, 2022, respectively, and was determined using a discounted cash flow analysis, based on the current rates for similar financial instruments of the same duration and creditworthiness of the company. The book value of long-term debt was $1,563,609 and $1,496,325 as of June 30, 2023 and December 31, 2022, respectively. The fair value of long-term debt would be categorized as Level 2 in the fair value hierarchy. CTWS’s additional retirement benefits under the supplemental executive retirement plans and retirement contracts are funded by investment assets held by a Rabbi Trust. The fair value of the money market funds, mutual funds and fixed income investments in the Rabbi Trust was $2,808 and $2,809 as of June 30, 2023 and December 31, 2022, respectively, and are categorized as Level 1 in the fair value hierarchy. Earnings per Share

Regulatory Matters

Regulatory Matters	6 Months Ended
	Jun. 30, 2023
Regulated Operations [Abstract]
Regulatory Matters	Regulatory Matters Regulatory assets, net are comprised of the following as of June 30, 2023 and December 31, 2022: June 30, 2023 December 31, 2022 Regulatory assets: Income tax temporary differences, net $ 54,110 43,434 Postretirement pensions and other postretirement benefits 30,548 31,493 Business combinations debt premium, net 16,125 17,396 Monterey Water Revenue Adjustment Mechanism (“MWRAM”) 15,834 10,864 Water Conservation Memorandum Account (“WCMA”) (7,621) (5,039) 2022 General Rate Case Interim Memorandum Account 15,108 20,650 Cost recovery balancing and memorandum accounts 6,225 16,545 All other balancing and memorandum accounts 3,698 2,749 Water Revenue Adjustment (“WRA”) (8,063) (4,488) Other, net 10,013 9,739 Total regulatory assets, net in Condensed Consolidated Balance Sheets 135,977 143,343 Less: current regulatory assets, net 5,968 16,068 Total regulatory assets, net, less current portion $ 130,009 127,275 SJWC has established balancing accounts for the purpose of tracking the under-collection or over-collection associated with expense changes and revenue authorized by the CPUC to offset those expense changes. In 2022, SJWC’s general rate case decision approved the use of the Full Cost Balancing Account to track the water supply costs and energy consumption. The MWRAM balancing account tracks the difference between the revenue received for actual metered sales through the tiered volumetric rate and the revenue that would have been received with the same actual metered sales if a uniform rate would have been in effect. SJWC also maintains memorandum accounts to track revenue impacts due to catastrophic events, certain unforeseen water quality expenses related to new federal and state water quality standards, energy efficiency, water conservation, water tariffs, and other approved activities or as directed by the CPUC. The WCMA allows SJWC to track lost revenue, net of related water costs, associated with reduced sales due to water conservation and associated calls for water use reductions. SJWC records the lost revenue captured in the WCMA balancing accounts. Drought surcharges collected are used to offset the revenue losses tracked in the WCMA. Mandatory water conservation requirements from Santa Clara Valley Water District ended on April 11, 2023, which also ended SJWC’s Mandatory Conservation Plan, that included drought allocations and surcharges. All balancing accounts and memorandum accounts not included for recovery or refund in the current general rate case will be reviewed by the CPUC in SJWC’s next general rate case or at the time an individual account balance reaches a threshold of 2% of authorized revenue, whichever occurs first. Connecticut Water has been authorized by the Connecticut Public Utilities Regulatory Authority to utilize a WRA, a decoupling mechanism, to mitigate risk with changes in demand. The WRA is used to reconcile actual water demands with the demands projected in the most recent general rate case and allows the company to implement a surcharge or surcredit as necessary to recover or refund the revenues approved in the general rate case. The WRA allows the company to defer, as a regulatory asset or liability, the amount by which actual revenues deviate from the revenues allowed in the most recent general rate proceedings. As of June 30, 2023 and December 31, 2022, SJW Group’s regulatory assets, net, not earning a return primarily included postretirement pensions and the unfunded amount of other medical benefits, and business combination debt premiums, net. The total amount of regulatory assets, net not earning a return at June 30, 2023 and December 31, 2022, either by interest on the regulatory asset/liability or as a component of rate base at the allowed rate of return was $49,958 and $52,066, respectively.

Capitalization

Capitalization	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Capitalization	CapitalizationIn March 2023, SJW Group entered into an Amendment No. 1 to the equity distribution agreement (the “Equity Distribution Agreement”), dated November 17, 2021, between SJW Group and J.P. Morgan Securities LLC, Janney Montgomery Scott LLC, RBC Capital Markets, LLC and Wells Fargo Securities, LLC (each a “Sales Agent” and, collectively, the “Sales Agents”), pursuant to which SJW Group increased the aggregate gross sales price of shares of SJW Group’s common stock, $0.001 par value per share, that may be sold under the Equity Distribution Agreement from $100,000 to $240,000. For the three and six months ended June 30, 2023, SJW Group issued and sold a total of 312,683 and 860,503 shares of common stock, respectively, with a weighted average price of $74.60 and $75.56 per share, respectively, and received $22,782 and $63,779 in net proceeds, respectively, under the Equity Distribution Agreement. Since the inception of the Equity Distribution Agreement, SJW Group has issued and sold 1,745,354 shares of common stock with a weighted average price of $74.49 for a total net proceeds of $127,210 and has $109,995 remaining under the Equity Distribution Agreement to issue into shares.

Bank Borrowings and Long-Term L

Bank Borrowings and Long-Term Liabilities	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Bank Borrowings and Long-Term Liabilities	Bank Borrowings and Long-Term Liabilities SJW Group’s contractual obligations and commitments include senior notes, bank term loans, revenue bonds, state revolving fund loans and other obligations. Water Utility Services has received advance deposit payments from its customers and developers on certain construction projects. The refunds of the advance deposit payments constitute an obligation of the respective entities. Long-term Financing Agreements

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three and six months ended June 30, 2023, income tax benefit was $1,512 and $434, respectively. Income tax expense for the three and six months ended June 30, 2022, was $2,368 and $3,435, respectively. The effective consolidated income tax rates were (9)% and 17% for the three months ended June 30, 2023 and 2022, respectively, and (1)% and 18% for the six months ended June 30, 2023 and 2022, respectively. The lower effective tax rate for the three and six months ended June 30, 2023, was primarily due to the partial release of an uncertain tax position reserve. In April 2023, the Internal Revenue Service issued additional tax guidance that has allowed the company to revisit certain historical income tax reserves. Pursuant to the issuance of this guidance, which provided additional clarification regarding some of the uncertain tax areas, the company re-evaluated the risk relating to repair deductions. The result of the analysis led to a partial release of an uncertain tax position reserve of $3,087 . The release relates to repairs expenditures that are more likely than not to be sustained on audit. SJW Group had unrecognized tax benefits, before the impact of deductions of state taxes, excluding interest and penalties, of approximately $5,877 and $9,004 as of June 30, 2023 and December 31, 2022, respectively. SJW Group currently does not expect uncertain tax positions to change significantly over the next 12 months, except in the case of a lapse of the statute of limitations.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and ContingenciesSJW Group is subject to ordinary routine litigation incidental to its business. There are no pending legal proceedings to which SJW Group or any of its subsidiaries is a party, or to which any of its properties is the subject, that are expected to have a material effect on SJW Group’s business, financial position, results of operations or cash flows.

Benefit Plans

Benefit Plans	6 Months Ended
	Jun. 30, 2023
Retirement Benefits [Abstract]
Benefit Plans	Benefit Plans SJW Group maintains noncontributory defined benefit pension plans for its eligible employees. SJWC and CTWS employees hired before March 31, 2008, and January 1, 2009, respectively, are entitled to benefits under the pension plans based on the employee’s years of service and compensation. For SJWC employees hired on or after March 31, 2008, benefits are determined using a cash balance formula based upon compensation credits and interest credits for each employee. Starting in 2023, Texas Water employees are also eligible to participate under SJWC’s cash balance plan. Certain CTWS employees hired before March 1, 2012, and covered by a plan merged into the CTWS plan in 2013 are also entitled to benefits based on the employee’s years of service and compensation. CTWS employees hired on or after January 1, 2009, are entitled to an additional 1.5% of eligible compensation to their company sponsored savings plan. In addition, senior management hired before March 31, 2008 for SJWC and January 1, 2009 for CTWS, are eligible to receive additional retirement benefits under supplemental executive retirement plans and retirement contracts. SJWC’s senior management hired on or after March 31, 2008, are eligible to receive additional retirement benefits under SJWC’s Cash Balance Executive Supplemental Retirement Plan. The supplemental retirement plans and Cash Balance Executive Supplemental Retirement Plan are non-qualified plans in which only senior management and other designated members of management may participate. SJW Group also provides health care and life insurance benefits for retired employees under employer-sponsored postretirement benefits that are not pension plans. The components of net periodic benefit costs for the defined benefit plans and other postretirement benefits for the three and six months ended June 30, 2023 and 2022 are as follows: Pension Benefits Other Benefits Three months ended June 30, 2023 2022 2023 2022 Service cost $ 1,892 2,397 $ 160 255 Interest cost 3,557 2,642 317 219 Expected return on assets (4,069) (4,824) (217) (221) Unrecognized actuarial loss 554 1,275 (88) (75) Amortization of prior service cost 4 4 — — Total $ 1,938 1,494 $ 172 178 Pension Benefits Other Benefits Six months ended June 30, 2023 2022 2023 2022 Service cost $ 3,784 4,794 $ 320 510 Interest cost 7,115 5,283 634 438 Expected return on assets (8,138) (9,646) (434) (442) Unrecognized actuarial loss 1,108 2,515 (176) (151) Amortization of prior service cost 7 8 — — Total $ 3,876 2,954 $ 344 355 In 2023, SJW Group expects to make required and discretionary cash contributions of up to $8,120 to the pension plans and other postretirement benefits. For the three and six months ended June 30, 2023, SJW Group has made $4,060 of contributions to such plans.

Equity Plans

Equity Plans	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Equity Plans	Equity PlansSJW Group’s long-term incentive plans provide employees, non-employee board members or the board of directors of any parent or subsidiary, consultants, and other independent advisors who provide services to the company or subsidiary the opportunity to acquire an equity interest in SJW Group. SJW Group also maintains stock plans in connection with its acquisition of CTWS which are no longer granting new stock awards. In addition, shares are issued to employees under SJW Group’s employee stock purchase plan. As of June 30, 2023, 156,299 shares are issuable upon the vesting of outstanding restricted stock units and deferred restricted stock units and an additional 1,132,390 shares are available for award issuances under the long-term incentive plans. On April 26, 2023, SJW Group adopted the successor plans, 2023 Long-Term Incentive Plan and 2023 Employee Stock Purchase Plan, to replace the Amended and Restated Long-Term Incentive Plan (the, “Predecessor Incentive Plan”) and 2014 Employee Stock Purchase Plan (the, “Predecessor ESPP”), respectively. The Predecessor Incentive Plan terminated on April 23, 2023 and Predecessor ESPP terminated on July 31, 2023. Each outstanding award under the Predecessor Incentive Plan will remain outstanding under the Predecessor Incentive Plan and shall be governed solely by the terms of the documents evidencing such awards. The 2023 Long-Term Incentive Plan reserves a total of 1,142,000 shares of SJW Group’s common stock for issuance to employees, non-employee board members or the board of directors of any parent or subsidiary, consultants, and other independent advisors who provide services to the SJW Group and its subsidiaries. The 2023 Employee Stock Purchase Plan reserves for a total of 500,000 shares of SJW Group’s common stock for issuance for eligible employees to purchase common stock at a discount through accumulated payroll deductions. Remaining reserves for both of the predecessor plans will be terminated with the adoption of the successor plans. A summary of compensation costs charged to income and proceeds from the exercise of restricted stock and similar instruments that are recorded to additional paid-in capital and common stock, by award type, are presented below for the three and six months ended June 30, 2023 and 2022: Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 Compensation costs charged to income: ESPP $ — — $ 191 185 Restricted stock and deferred restricted stock 1,139 1,041 2,147 2,408 Total compensation costs charged to income $ 1,139 1,041 $ 2,338 2,593 ESPP proceeds $ — — $ 1,080 1,049 Restricted Stock and Deferred Restricted Stock For the three months ended June 30, 2023, and 2022, SJW Group granted 9,610 and 12,604, respectively, one year and three year service-based restricted stock awards with a weighted-average grant date fair value per unit of $75.28 and $58.04, respectively. For the six months ended June 30, 2023 and 2022, SJW Group granted 37,342 and 44,003, respectively, one year and three year service-based restricted stock awards with a weighted-average grant date fair value per unit of $77.21 and $65.41, respectively. For the three months ended June 30, 2023, no performance-based or market-based restricted stock awards were granted. For the three months ended June 30, 2022, SJW Group granted 32 target units performance-based and market-based restricted stock awards granted with a weighted-average grant date fair value per unit of $66.14. For the six months ended June 30, 2023 and 2022, SJW Group granted 31,345 and 33,653 target units, respectively, performance-based and market-based restricted stock awards granted with a weighted-average grant date fair value per unit of $80.05 and $70.35, respectively. Based upon actual attainment relative to the target performance metric, the number of shares issuable can range between 0% to 150% of the target number of shares for performance-based restricted stock awards, or between 0% and 200% of the target number of shares for market-based restricted stock awards. As of June 30, 2023, the total unrecognized compensation costs related to restricted and deferred restricted stock plans was $7,121. This cost is expected to be recognized over a weighted-average period of 1.99 years. Employee Stock Purchase Plan SJW Group’s recorded expenses for its ESPP were $106 and $196 for the three and six months ended June 30, 2023, respectively, and $89 and $182 for the three and six months ended June 30, 2022, respectively. The total unrecognized compensation costs related to the semi-annual offering period that ends July 31, 2023, for the employee stock purchase plan is approximately $34. This cost is expected to be recognized during the third quarter of 2023.

Segment and Non-Tariffed Busine

Segment and Non-Tariffed Business Reporting	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Segment and Non-Tariffed Business Reporting	Segment and Non-Tariffed Business Reporting SJW Group is a holding company with five subsidiaries: (i) SJWC, a water utility operation with both regulated and non-tariffed businesses, (ii) Texas Water, a regulated water and non-tariffed wastewater utility located in Canyon Lake, Texas, and its consolidated non-tariffed variable interest entity, Acequia Water Supply Corporation, (iii) SJW Land Company and its consolidated variable interest entity, 444 West Santa Clara Street, L.P., which operated commercial building rentals, (iv) SJWNE LLC, a holding company for CTWS and its subsidiaries, Connecticut Water, Maine Water, NEWUS and Chester Realty, Inc., and (v) SJWTX Holdings, Inc. which was formed for the purpose of effecting a corporate reorganization of the water utility operations in Texas. SJW Group’s reportable segments have been determined based on information used by the chief operating decision maker. SJW Group’s chief operating decision maker includes the Chairman, President and Chief Executive Officer, and his executive staff. The first segment provides water utility and utility-related services to its customers through SJW Group’s subsidiaries, SJWC, Connecticut Water, Texas Water, Maine Water, and NEWUS together referred to as “Water Utility Services”. The second segment consists of property management and investment activity conducted by SJW Land Company and Chester Realty, Inc., referred to as “Real Estate Services.” The following tables set forth information relating to SJW Group’s reportable segments and distribution of regulated and non-tariffed business activities within the reportable segments. Certain allocated assets, such as goodwill, revenue and expenses have been included in the reportable segment amounts. Other business activity of SJW Group not included in the reportable segments is included in the “All Other” category. For Three Months Ended June 30, 2023 Water Utility Services Real Estate Services All Other (1) SJW Group Regulated Non-tariffed Non-tariffed Non-tariffed Regulated Non-tariffed Total Operating revenue $ 152,525 2,945 1,416 — 152,525 4,361 156,886 Operating expense 122,678 1,789 661 600 122,678 3,050 125,728 Operating income (loss) 29,847 1,156 755 (600) 29,847 1,311 31,158 Net income (loss) 20,510 596 544 (3,364) 20,510 (2,224) 18,286 Depreciation and amortization 25,811 85 1 224 25,811 310 26,121 Interest on long-term debt and other interest expense 10,846 — — 5,551 10,846 5,551 16,397 Provision (benefit) for income taxes 102 320 243 (2,177) 102 (1,614) (1,512) Assets $ 3,605,238 4,480 43,714 58,726 3,605,238 106,920 3,712,158 For Three Months Ended June 30, 2022 Water Utility Services Real Estate Services All Other (1) SJW Group Regulated Non-tariffed Non-tariffed Non-tariffed Regulated Non-tariffed Total Operating revenue $ 144,261 3,414 1,366 — 144,261 4,780 149,041 Operating expense 119,430 1,797 915 497 119,430 3,209 122,639 Operating income (loss) 24,831 1,617 451 (497) 24,831 1,571 26,402 Net income (loss) 12,765 1,768 323 (3,298) 12,765 (1,207) 11,558 Depreciation and amortization 24,458 165 301 283 24,458 749 25,207 Interest on long-term debt and other interest expense 9,805 — (3) 4,439 9,805 4,436 14,241 Provision (benefit) for income taxes 2,721 443 110 (906) 2,721 (353) 2,368 Assets $ 3,435,758 4,220 44,033 57,036 3,435,758 105,289 3,541,047 For Six Months Ended June 30, 2023 Water Utility Services Real Estate Services All Other (1) SJW Group Regulated Non-tariffed Non-tariffed Non-tariffed Regulated Non-tariffed Total Operating revenue $ 285,797 5,522 2,863 — 285,797 8,385 294,182 Operating expense 231,545 3,203 1,560 1,538 231,545 6,301 237,846 Operating income (loss) 54,252 2,319 1,303 (1,538) 54,252 2,084 56,336 Net income (loss) 33,732 1,214 969 (6,099) 33,732 (3,916) 29,816 Depreciation and amortization 51,497 169 304 447 51,497 920 52,417 Interest on long-term debt and other interest expense 21,393 — — 10,776 21,393 10,776 32,169 Provision (benefit) for income taxes 2,826 643 385 (4,288) 2,826 (3,260) (434) Assets $ 3,605,238 4,480 43,714 58,726 3,605,238 106,920 3,712,158 For Six Months Ended June 30, 2022 Water Utility Services Real Estate Services All Other (1) SJW Group Regulated Non-tariffed Non-tariffed Non-tariffed Regulated Non-tariffed Total Operating revenue $ 264,779 5,842 2,722 — 264,779 8,564 273,343 Operating expense 220,881 5,776 1,824 1,871 220,881 9,471 230,352 Operating income (loss) 43,898 66 898 (1,871) 43,898 (907) 42,991 Net income (loss) 22,480 451 631 (8,267) 22,480 (7,185) 15,295 Depreciation and amortization 48,969 2,737 601 506 48,969 3,844 52,813 Interest on long-term debt and other interest expense 18,568 — (3) 9,405 18,568 9,402 27,970 Provision (benefit) for income taxes 4,741 6 213 (1,525) 4,741 (1,306) 3,435 Assets $ 3,435,758 4,220 44,033 57,036 3,435,758 105,289 3,541,047 ____________________

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions	AcquisitionsOn January 13, 2023, Texas Water reached agreements to acquire KT Water Development Ltd. and KT Water Resource L.P. for the purchase price of $7,338 and $56,500, respectively. KT Water Development Ltd. is an investor-owned water utility providing water to approximately 1,725 people through over 570 service connections in the Rockwall Ranch subdivision in southern Comal County, Texas. KT Water Resources L.P. is a privately-held company formed to develop wholesale water supplies for the fast-growing utilities of Comal County, Texas. The Public Utility Commission of Texas approved of the proposed KT Water Development Ltd. acquisition on July 24, 2023. Both transactions are expected to close in the third quarter of 2023.

General (Policies)

General (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Accounting	The unaudited interim financial information has been prepared in accordance with accounting principles generally accepted in the United States of America and in accordance with the instructions for Form 10-Q and Rule 10-01 of Regulation S-X promulgated by the Securities and Exchange Commission. The Notes to Consolidated Financial Statements in SJW Group’s 2022 Annual Report on Form 10-K should be read with the accompanying unaudited condensed consolidated financial statements.
Revenue	Revenue Water sales are seasonal in nature and influenced by weather conditions. The timing of precipitation and climatic conditions can cause seasonal water consumption by customers to vary significantly. Due to the seasonal nature of the water business, the operating results for interim periods are not indicative of the operating results for a 12-month period. Revenue is generally higher in the warm, dry summer months when water usage and sales are greater, and lower in the winter months when cooler temperatures and increased precipitation curtail water usage resulting in lower sales.
Fair Value Measurement	Fair Value MeasurementThe following instruments are not measured at fair value on SJW Group’s condensed consolidated balance sheets as of June 30, 2023, but require disclosure of their fair values: cash and cash equivalents, accounts receivable and accounts payable. The estimated fair value of such instruments as of June 30, 2023, approximates their carrying value as reported on the condensed consolidated balance sheets. There have been no changes in valuation techniques during the three and six months ended June 30, 2023. The fair value of these instruments would be categorized as Level 2 in the fair value hierarchy, with the exception of cash and cash equivalents, which would be categorized as Level 1.
Earnings per Share	Earnings per ShareBasic earnings per share is calculated using income available to common stockholders, divided by the weighted average number of shares outstanding during the period. Diluted earnings per share is calculated using income available to common stockholders divided by the weighted average number of shares of common stock including both shares outstanding and shares potentially issuable in connection with restricted common stock awards under SJW Group’s long-term incentive plans, shares potentially issuable under the performance stock plans assumed through the business combination with CTWS, and shares potentially issuable under SJW Group’s employee stock purchase plans.

General (Tables)

General (Tables)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Schedule of Major Streams of Revenue	The major streams of revenue for SJW Group are as follows: Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 Revenue from contracts with customers $ 159,724 148,657 $ 295,560 270,434 Alternative revenue programs, net (2,204) (2,982) (3,595) (4,909) Other balancing and memorandum accounts, net (1,617) 2,432 178 4,862 Other regulatory mechanisms, net (433) (432) (824) 234 Rental income 1,416 1,366 2,863 2,722 $ 156,886 149,041 $ 294,182 273,343
Schedule of Real Estate Investments and Nonutility Properties	The major components of real estate investments and nonutility properties as of June 30, 2023 and December 31, 2022, are as follows: June 30, December 31, Land $ 918 12,615 Buildings and improvements 470 45,418 Subtotal 1,388 58,033 Less: accumulated depreciation and amortization 191 17,158 Total $ 1,197 40,875 June 30, Land $ 13,170 Buildings and improvements 44,950 Subtotal 58,120 Less: accumulated depreciation and amortization 17,270 Total $ 40,850

Regulatory Matters (Tables)

Regulatory Matters (Tables)	6 Months Ended
	Jun. 30, 2023
Regulated Operations [Abstract]
Schedule of Regulatory Assets, Net	Regulatory assets, net are comprised of the following as of June 30, 2023 and December 31, 2022: June 30, 2023 December 31, 2022 Regulatory assets: Income tax temporary differences, net $ 54,110 43,434 Postretirement pensions and other postretirement benefits 30,548 31,493 Business combinations debt premium, net 16,125 17,396 Monterey Water Revenue Adjustment Mechanism (“MWRAM”) 15,834 10,864 Water Conservation Memorandum Account (“WCMA”) (7,621) (5,039) 2022 General Rate Case Interim Memorandum Account 15,108 20,650 Cost recovery balancing and memorandum accounts 6,225 16,545 All other balancing and memorandum accounts 3,698 2,749 Water Revenue Adjustment (“WRA”) (8,063) (4,488) Other, net 10,013 9,739 Total regulatory assets, net in Condensed Consolidated Balance Sheets 135,977 143,343 Less: current regulatory assets, net 5,968 16,068 Total regulatory assets, net, less current portion $ 130,009 127,275

Benefit Plans (Tables)

Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2023
Retirement Benefits [Abstract]
Schedule of Net Benefit Costs	The components of net periodic benefit costs for the defined benefit plans and other postretirement benefits for the three and six months ended June 30, 2023 and 2022 are as follows: Pension Benefits Other Benefits Three months ended June 30, 2023 2022 2023 2022 Service cost $ 1,892 2,397 $ 160 255 Interest cost 3,557 2,642 317 219 Expected return on assets (4,069) (4,824) (217) (221) Unrecognized actuarial loss 554 1,275 (88) (75) Amortization of prior service cost 4 4 — — Total $ 1,938 1,494 $ 172 178 Pension Benefits Other Benefits Six months ended June 30, 2023 2022 2023 2022 Service cost $ 3,784 4,794 $ 320 510 Interest cost 7,115 5,283 634 438 Expected return on assets (8,138) (9,646) (434) (442) Unrecognized actuarial loss 1,108 2,515 (176) (151) Amortization of prior service cost 7 8 — — Total $ 3,876 2,954 $ 344 355

Equity Plans (Tables)

Equity Plans (Tables)	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Compensation Costs Charged to Income and Proceeds from the Exercise of Any Restricted Stock and Similar Instruments that are Recorded to Additional Paid-In Capital and Common Stock, by Award Type	A summary of compensation costs charged to income and proceeds from the exercise of restricted stock and similar instruments that are recorded to additional paid-in capital and common stock, by award type, are presented below for the three and six months ended June 30, 2023 and 2022: Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 Compensation costs charged to income: ESPP $ — — $ 191 185 Restricted stock and deferred restricted stock 1,139 1,041 2,147 2,408 Total compensation costs charged to income $ 1,139 1,041 $ 2,338 2,593 ESPP proceeds $ — — $ 1,080 1,049

Segment and Non-Tariffed Busi_2

Segment and Non-Tariffed Business Reporting (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following tables set forth information relating to SJW Group’s reportable segments and distribution of regulated and non-tariffed business activities within the reportable segments. Certain allocated assets, such as goodwill, revenue and expenses have been included in the reportable segment amounts. Other business activity of SJW Group not included in the reportable segments is included in the “All Other” category. For Three Months Ended June 30, 2023 Water Utility Services Real Estate Services All Other (1) SJW Group Regulated Non-tariffed Non-tariffed Non-tariffed Regulated Non-tariffed Total Operating revenue $ 152,525 2,945 1,416 — 152,525 4,361 156,886 Operating expense 122,678 1,789 661 600 122,678 3,050 125,728 Operating income (loss) 29,847 1,156 755 (600) 29,847 1,311 31,158 Net income (loss) 20,510 596 544 (3,364) 20,510 (2,224) 18,286 Depreciation and amortization 25,811 85 1 224 25,811 310 26,121 Interest on long-term debt and other interest expense 10,846 — — 5,551 10,846 5,551 16,397 Provision (benefit) for income taxes 102 320 243 (2,177) 102 (1,614) (1,512) Assets $ 3,605,238 4,480 43,714 58,726 3,605,238 106,920 3,712,158 For Three Months Ended June 30, 2022 Water Utility Services Real Estate Services All Other (1) SJW Group Regulated Non-tariffed Non-tariffed Non-tariffed Regulated Non-tariffed Total Operating revenue $ 144,261 3,414 1,366 — 144,261 4,780 149,041 Operating expense 119,430 1,797 915 497 119,430 3,209 122,639 Operating income (loss) 24,831 1,617 451 (497) 24,831 1,571 26,402 Net income (loss) 12,765 1,768 323 (3,298) 12,765 (1,207) 11,558 Depreciation and amortization 24,458 165 301 283 24,458 749 25,207 Interest on long-term debt and other interest expense 9,805 — (3) 4,439 9,805 4,436 14,241 Provision (benefit) for income taxes 2,721 443 110 (906) 2,721 (353) 2,368 Assets $ 3,435,758 4,220 44,033 57,036 3,435,758 105,289 3,541,047 For Six Months Ended June 30, 2023 Water Utility Services Real Estate Services All Other (1) SJW Group Regulated Non-tariffed Non-tariffed Non-tariffed Regulated Non-tariffed Total Operating revenue $ 285,797 5,522 2,863 — 285,797 8,385 294,182 Operating expense 231,545 3,203 1,560 1,538 231,545 6,301 237,846 Operating income (loss) 54,252 2,319 1,303 (1,538) 54,252 2,084 56,336 Net income (loss) 33,732 1,214 969 (6,099) 33,732 (3,916) 29,816 Depreciation and amortization 51,497 169 304 447 51,497 920 52,417 Interest on long-term debt and other interest expense 21,393 — — 10,776 21,393 10,776 32,169 Provision (benefit) for income taxes 2,826 643 385 (4,288) 2,826 (3,260) (434) Assets $ 3,605,238 4,480 43,714 58,726 3,605,238 106,920 3,712,158 For Six Months Ended June 30, 2022 Water Utility Services Real Estate Services All Other (1) SJW Group Regulated Non-tariffed Non-tariffed Non-tariffed Regulated Non-tariffed Total Operating revenue $ 264,779 5,842 2,722 — 264,779 8,564 273,343 Operating expense 220,881 5,776 1,824 1,871 220,881 9,471 230,352 Operating income (loss) 43,898 66 898 (1,871) 43,898 (907) 42,991 Net income (loss) 22,480 451 631 (8,267) 22,480 (7,185) 15,295 Depreciation and amortization 48,969 2,737 601 506 48,969 3,844 52,813 Interest on long-term debt and other interest expense 18,568 — (3) 9,405 18,568 9,402 27,970 Provision (benefit) for income taxes 4,741 6 213 (1,525) 4,741 (1,306) 3,435 Assets $ 3,435,758 4,220 44,033 57,036 3,435,758 105,289 3,541,047 ____________________

General - Narrative (Details)

General - Narrative (Details)	1 Months Ended	3 Months Ended	6 Months Ended
	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Jun. 30, 2023 subsidiary
Schedule of Investments [Line Items]
Number of subsidiaries | subsidiary			5
Gain on sale of real estate investments		$ 5,442,000
Warehouse Building
Schedule of Investments [Line Items]
Impairment, long-lived asset	$ 0

General - Major Streams of Reve

General - Major Streams of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Accounting Policies [Abstract]
Revenue from contracts with customers	$ 159,724	$ 148,657	$ 295,560	$ 270,434
Alternative revenue programs, net	(2,204)	(2,982)	(3,595)	(4,909)
Other balancing and memorandum accounts, net	(1,617)	2,432	178	4,862
Other regulatory mechanisms, net	(433)	(432)	(824)	234
Rental income	1,416	1,366	2,863	2,722
Total revenues	$ 156,886	$ 149,041	$ 294,182	$ 273,343

General - Schedule of Real Esta

General - Schedule of Real Estate Investments and Nonutility Properties (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Schedule of Investments [Line Items]
Land	$ 918	$ 12,615
Buildings and improvements	470	45,418
Subtotal	1,388	58,033
Less accumulated depreciation and amortization	191	17,158
Net real estate investments and nonutility properties	1,197	$ 40,875
Warehouse Building
Schedule of Investments [Line Items]
Land	13,170
Buildings and improvements	44,950
Subtotal	58,120
Less accumulated depreciation and amortization	17,270
Net real estate investments and nonutility properties	$ 40,850

General - Fair Value Measuremen

General - Fair Value Measurement (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, book value	$ 1,563,609	$ 1,496,325
Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	1,354,865	1,294,354
Fair Value, Inputs, Level 1 | Supplemental Employee Retirement Plan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of plan assets	$ 2,808	$ 2,809

General - Earnings per Share (D

General - Earnings per Share (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive restricted common stock units excluded from computation of earnings per share (in shares)	1,843	4,964	10,698	15,824

Regulatory Matters - Regulatory

Regulatory Matters - Regulatory Assets, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Regulatory Assets [Line Items]
Total regulatory assets, net in Condensed Consolidated Balance Sheets	$ 135,977	$ 143,343
Less: current regulatory assets, net	5,968	16,068
Total regulatory assets, net, less current portion	130,009	127,275
Income tax temporary differences, net
Regulatory Assets [Line Items]
Total regulatory assets, net in Condensed Consolidated Balance Sheets	54,110	43,434
Postretirement pensions and other postretirement benefits
Regulatory Assets [Line Items]
Total regulatory assets, net in Condensed Consolidated Balance Sheets	30,548	31,493
Business combinations debt premium, net
Regulatory Assets [Line Items]
Total regulatory assets, net in Condensed Consolidated Balance Sheets	16,125	17,396
Monterey Water Revenue Adjustment Mechanism (“MWRAM”)
Regulatory Assets [Line Items]
Total regulatory assets, net in Condensed Consolidated Balance Sheets	15,834	10,864
Water Conservation Memorandum Account (“WCMA”)
Regulatory Assets [Line Items]
Total regulatory assets, net in Condensed Consolidated Balance Sheets	(7,621)	(5,039)
2022 General Rate Case Interim Memorandum Account
Regulatory Assets [Line Items]
Total regulatory assets, net in Condensed Consolidated Balance Sheets	15,108	20,650
Cost recovery balancing and memorandum accounts
Regulatory Assets [Line Items]
Total regulatory assets, net in Condensed Consolidated Balance Sheets	6,225	16,545
All other balancing and memorandum accounts
Regulatory Assets [Line Items]
Total regulatory assets, net in Condensed Consolidated Balance Sheets	3,698	2,749
Water Revenue Adjustment (“WRA”)
Regulatory Assets [Line Items]
Total regulatory assets, net in Condensed Consolidated Balance Sheets	(8,063)	(4,488)
Other, net
Regulatory Assets [Line Items]
Total regulatory assets, net in Condensed Consolidated Balance Sheets	$ 10,013	$ 9,739

Regulatory Matters - Narrative

Regulatory Matters - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Regulated Operations [Abstract]
Authorized revenue, threshold percentage	2%
Regulatory assets, net not earning a return	$ 49,958	$ 52,066

Capitalization (Details)

Capitalization (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	6 Months Ended	19 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Feb. 28, 2023	Dec. 31, 2022
Subsidiary, Sale of Stock [Line Items]
Common stock, par value (usd per share)	$ 0.001	$ 0.001	$ 0.001			$ 0.001
At The Market Offering Member
Subsidiary, Sale of Stock [Line Items]
Common stock, par value (usd per share)				$ 0.001
Aggregate gross sales price (up to)				$ 240,000	$ 100,000
Shares issued in offering (shares)	312,683	860,503	1,745,354
Weighted average price per share (usd per share)	$ 74.60	$ 75.56	$ 74.49
Net proceeds from stock offering	$ 22,782	$ 63,779	$ 127,210
Total equity distribution	$ 109,995	$ 109,995	$ 109,995

Bank Borrowings and Long-Term_2

Bank Borrowings and Long-Term Liabilities (Details) - San Jose Water Company - 4.85% Senior Note, Series P - Senior Notes $ in Thousands	Jul. 31, 2022 USD ($)
Debt Instrument [Line Items]
Aggregate principal amount	$ 70,000
Interest rate	4.85%

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Apr. 30, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Provision (benefit) for income taxes		$ (1,512)	$ 2,368	$ (434)	$ 3,435
Effective consolidated income tax rate		(9.00%)	17%	(1.00%)	18%
Unrecognized tax benefits, period increase (decrease)	$ (3,087)
Unrecognized tax benefits		$ 5,877		$ 5,877		$ 9,004

Benefit Plans - Narrative (Deta

Benefit Plans - Narrative (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Employer plan contributions	$ 4,060	$ 4,060
Maximum
Defined Benefit Plan Disclosure [Line Items]
Estimated employer contributions for the remainder of fiscal year	$ 8,120	$ 8,120
CTWS Employees
Defined Benefit Plan Disclosure [Line Items]
Rate of compensation increase		1.50%

Benefit Plans - Schedule of Net

Benefit Plans - Schedule of Net Benefit Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 1,892	$ 2,397	$ 3,784	$ 4,794
Interest cost	3,557	2,642	7,115	5,283
Expected return on assets	(4,069)	(4,824)	(8,138)	(9,646)
Unrecognized actuarial loss	554	1,275	1,108	2,515
Amortization of prior service cost	4	4	7	8
Total	1,938	1,494	3,876	2,954
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	160	255	320	510
Interest cost	317	219	634	438
Expected return on assets	(217)	(221)	(434)	(442)
Unrecognized actuarial loss	(88)	(75)	(176)	(151)
Amortization of prior service cost	0	0	0	0
Total	$ 172	$ 178	$ 344	$ 355

Equity Plans - Narrative (Detai

Equity Plans - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Apr. 26, 2023
Restricted stock and deferred restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation costs	$ 7,121		$ 7,121
Recognition period for unrecognized compensation cost			1 year 11 months 26 days
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equity instruments granted (in shares)	9,610	12,604
Grant date fair value of equity instruments granted (usd per share)	$ 75.28	$ 58.04
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equity instruments granted (in shares)	0	32
Grant date fair value of equity instruments granted (usd per share)		$ 66.14
Performance Shares | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target vesting percentage			0%
Performance Shares | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target vesting percentage			150%
Market-based RSU | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target vesting percentage			0%
Market-based RSU | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target vesting percentage			200%
Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining shares available for issuance (in shares)					1,142,000
Incentive Plan | Restricted stock and deferred restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issuable upon exercise of incentive plan awards (in shares)	156,299		156,299
Remaining shares available for issuance (in shares)	1,132,390		1,132,390
Number of equity instruments granted (in shares)			37,342	44,003
Service-based restricted stock vesting period	1 year	3 years	1 year	3 years
Grant date fair value of equity instruments granted (usd per share)			$ 77.21	$ 65.41
Incentive Plan | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equity instruments granted (in shares)			31,345	33,653
Grant date fair value of equity instruments granted (usd per share)			$ 80.05	$ 70.35
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining shares available for issuance (in shares)					500,000
Unrecognized compensation costs	$ 34		$ 34
Plan expense	$ 106	$ 89	$ 196	$ 182

Equity Plans - Schedule of Comp

Equity Plans - Schedule of Compensation Costs Charged to Income and Proceeds from the Exercise of Any Restricted Stock and Similar Instruments that are Recorded to Additional Paid-In Capital and Common Stock, by Award Type (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]
Compensation costs charged to income:	$ 1,139	$ 1,041	$ 2,338	$ 2,593
Restricted stock and deferred restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation costs charged to income:	1,139	1,041	2,147	2,408
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation costs charged to income:	0	0	191	185
ESPP proceeds	$ 0	$ 0	$ 1,080	$ 1,049

Segment and Non-Tariffed Busi_3

Segment and Non-Tariffed Business Reporting - Narrative (Details)	6 Months Ended
	Jun. 30, 2023 subsidiary
Segment Reporting [Abstract]
Number of subsidiaries	5

Segment and Non-Tariffed Busi_4

Segment and Non-Tariffed Business Reporting - Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Segment Reporting Information [Line Items]
Operating revenue	$ 156,886		$ 149,041		$ 294,182	$ 273,343
Operating expense	125,728		122,639		237,846	230,352
Operating income (loss)	31,158		26,402		56,336	42,991
Net income (loss)	18,286	$ 11,530	11,558	$ 3,737	29,816	15,295
Depreciation and amortization	26,121		25,207		52,417	52,813
Interest on long-term debt and other interest expense	16,397		14,241		32,169	27,970
Provision (benefit) for income taxes	(1,512)		2,368		(434)	3,435
Assets	3,712,158		3,541,047		3,712,158	3,541,047	$ 3,632,624
Water Utility Services | Regulated
Segment Reporting Information [Line Items]
Operating revenue	152,525		144,261		285,797	264,779
Operating expense	122,678		119,430		231,545	220,881
Operating income (loss)	29,847		24,831		54,252	43,898
Net income (loss)	20,510		12,765		33,732	22,480
Depreciation and amortization	25,811		24,458		51,497	48,969
Interest on long-term debt and other interest expense	10,846		9,805		21,393	18,568
Provision (benefit) for income taxes	102		2,721		2,826	4,741
Assets	3,605,238		3,435,758		3,605,238	3,435,758
Water Utility Services | Non-tariffed
Segment Reporting Information [Line Items]
Operating revenue	2,945		3,414		5,522	5,842
Operating expense	1,789		1,797		3,203	5,776
Operating income (loss)	1,156		1,617		2,319	66
Net income (loss)	596		1,768		1,214	451
Depreciation and amortization	85		165		169	2,737
Interest on long-term debt and other interest expense	0		0		0	0
Provision (benefit) for income taxes	320		443		643	6
Assets	4,480		4,220		4,480	4,220
Real Estate Services | Non-tariffed
Segment Reporting Information [Line Items]
Operating revenue	1,416		1,366		2,863	2,722
Operating expense	661		915		1,560	1,824
Operating income (loss)	755		451		1,303	898
Net income (loss)	544		323		969	631
Depreciation and amortization	1		301		304	601
Interest on long-term debt and other interest expense	0		(3)		0	(3)
Provision (benefit) for income taxes	243		110		385	213
Assets	43,714		44,033		43,714	44,033
All Other | Non-tariffed
Segment Reporting Information [Line Items]
Operating revenue	0		0		0	0
Operating expense	600		497		1,538	1,871
Operating income (loss)	(600)		(497)		(1,538)	(1,871)
Net income (loss)	(3,364)		(3,298)		(6,099)	(8,267)
Depreciation and amortization	224		283		447	506
Interest on long-term debt and other interest expense	5,551		4,439		10,776	9,405
Provision (benefit) for income taxes	(2,177)		(906)		(4,288)	(1,525)
Assets	58,726		57,036		58,726	57,036
SJW Group | Regulated
Segment Reporting Information [Line Items]
Operating revenue	152,525		144,261		285,797	264,779
Operating expense	122,678		119,430		231,545	220,881
Operating income (loss)	29,847		24,831		54,252	43,898
Net income (loss)	20,510		12,765		33,732	22,480
Depreciation and amortization	25,811		24,458		51,497	48,969
Interest on long-term debt and other interest expense	10,846		9,805		21,393	18,568
Provision (benefit) for income taxes	102		2,721		2,826	4,741
Assets	3,605,238		3,435,758		3,605,238	3,435,758
SJW Group | Non-tariffed
Segment Reporting Information [Line Items]
Operating revenue	4,361		4,780		8,385	8,564
Operating expense	3,050		3,209		6,301	9,471
Operating income (loss)	1,311		1,571		2,084	(907)
Net income (loss)	(2,224)		(1,207)		(3,916)	(7,185)
Depreciation and amortization	310		749		920	3,844
Interest on long-term debt and other interest expense	5,551		4,436		10,776	9,402
Provision (benefit) for income taxes	(1,614)		(353)		(3,260)	(1,306)
Assets	$ 106,920		$ 105,289		$ 106,920	$ 105,289

Acquisitions (Details)

Acquisitions (Details) - Texas Water - Forecast $ in Thousands	3 Months Ended
	Sep. 30, 2023 USD ($) serviceConnection people
KT Water Development Ltd
Business Acquisition [Line Items]
Business combination, purchase price	$ 7,338
Number of people served from acquisition | people	1,725
KT Water Development Ltd | Southern Comal County, Texas
Business Acquisition [Line Items]
Number of service connections from acquisition | serviceConnection	570
KT Water Resource L. P.
Business Acquisition [Line Items]
Business combination, purchase price	$ 56,500