10-Q Filing

CALIFORNIA WATER SERVICE GROUP CIK: 1035201 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001035201-20-000005`
Period End Date	20200331
Filing Date	20200430
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	cws-03312020x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 48 Cash Flow Statement 58

Balance Sheet 82 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	68.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	68.00M	shares	Point-in-time
Utility plant	`PublicUtilitiesPropertyPlantAndEquipmentPlantInService`	$3.62B	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	48.71M	shares	Point-in-time
Utility plant	`PublicUtilitiesPropertyPlantAndEquipmentPlantInService`	$3.55B	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	48.53M	shares	Point-in-time
Less accumulated depreciation and amortization	`PublicUtilitiesPropertyPlantAndEquipmentAccumulatedDepreciation`	$1.14B	USD	Point-in-time
Less accumulated depreciation and amortization	`PublicUtilitiesPropertyPlantAndEquipmentAccumulatedDepreciation`	$1.17B	USD	Point-in-time
Net utility plant	`PublicUtilitiesPropertyPlantAndEquipmentNet`	$2.45B	USD	Point-in-time
Net utility plant	`PublicUtilitiesPropertyPlantAndEquipmentNet`	$2.41B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$42.65M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$140.41M	USD	Point-in-time
Customers, net	`AccountsReceivableNetCurrent`	$32.73M	USD	Point-in-time
Customers, net	`AccountsReceivableNetCurrent`	$32.06M	USD	Point-in-time
Regulatory balancing accounts	`RegulatoryAssetsCurrent`	$38.23M	USD	Point-in-time
Regulatory balancing accounts	`RegulatoryAssetsCurrent`	$24.97M	USD	Point-in-time
Other, net	`NontradeReceivablesCurrent`	$14.43M	USD	Point-in-time
Other, net	`NontradeReceivablesCurrent`	$14.19M	USD	Point-in-time
Unbilled revenue, net	`ReceivablesLongTermContractsOrPrograms`	$34.88M	USD	Point-in-time
Unbilled revenue, net	`ReceivablesLongTermContractsOrPrograms`	$31.15M	USD	Point-in-time
Materials and supplies at weighted average cost	`PublicUtilitiesInventory`	$8.13M	USD	Point-in-time
Materials and supplies at weighted average cost	`PublicUtilitiesInventory`	$7.75M	USD	Point-in-time
Taxes, prepaid expenses, and other assets	`TaxesPrepaidExpensesAndOtherAssetsCurrent`	$14.96M	USD	Point-in-time
Taxes, prepaid expenses, and other assets	`TaxesPrepaidExpensesAndOtherAssetsCurrent`	$18.27M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$270.08M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$184.71M	USD	Point-in-time
Regulatory assets	`RegulatoryAssetsNoncurrent`	$433.32M	USD	Point-in-time
Regulatory assets	`RegulatoryAssetsNoncurrent`	$442.82M	USD	Point-in-time
Goodwill	`Goodwill`	$2.62M	USD	Point-in-time
Goodwill	`Goodwill`	$2.62M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$78.36M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$84.29M	USD	Point-in-time
Total other assets	`TotalOtherAssets`	$523.79M	USD	Point-in-time
Total other assets	`TotalOtherAssets`	$520.23M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$3.11B	USD	Point-in-time
TOTAL ASSETS	`Assets`	$3.24B	USD	Point-in-time
Common stock, $0.01 par value; 68,000 shares authorized, 48,714 and 48,532 outstanding in 2020 and 2019, respectively	`CommonStockValue`	$487.00K	USD	Point-in-time
Common stock, $0.01 par value; 68,000 shares authorized, 48,714 and 48,532 outstanding in 2020 and 2019, respectively	`CommonStockValue`	$485.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$362.27M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$368.13M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$417.15M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$386.52M	USD	Point-in-time
Total common stockholders equity	`StockholdersEquity`	$730.16M	USD	Point-in-time
Total common stockholders equity	`StockholdersEquity`	$755.14M	USD	Point-in-time
Total common stockholders equity	`StockholdersEquity`	$714.13M	USD	Point-in-time
Total common stockholders equity	`StockholdersEquity`	$779.91M	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$786.75M	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$786.47M	USD	Point-in-time
Total capitalization	`CapitalizationLongtermDebtAndEquity`	$1.57B	USD	Point-in-time
Total capitalization	`CapitalizationLongtermDebtAndEquity`	$1.54B	USD	Point-in-time
Current maturities of long-term debt, net	`LongTermDebtCurrent`	$21.86M	USD	Point-in-time
Current maturities of long-term debt, net	`LongTermDebtCurrent`	$21.87M	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$175.10M	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$335.10M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$99.02M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$108.46M	USD	Point-in-time
Regulatory balancing accounts	`RegulatoryLiabilityCurrent`	$4.46M	USD	Point-in-time
Regulatory balancing accounts	`RegulatoryLiabilityCurrent`	$3.47M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$5.81M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$14.54M	USD	Point-in-time
Accrued expenses and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$43.02M	USD	Point-in-time
Accrued expenses and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$39.12M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$358.72M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$513.13M	USD	Point-in-time
Unamortized investment tax credits	`AccumulatedDeferredInvestmentTaxCredit`	$1.57M	USD	Point-in-time
Unamortized investment tax credits	`AccumulatedDeferredInvestmentTaxCredit`	$1.57M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$222.59M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$218.45M	USD	Point-in-time
Pension and postretirement benefits other than pensions	`OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent`	$258.91M	USD	Point-in-time
Pension and postretirement benefits other than pensions	`OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent`	$260.34M	USD	Point-in-time
Regulatory liabilities and other	`RegulatoryAndOtherLiabilities`	$268.92M	USD	Point-in-time
Regulatory liabilities and other	`RegulatoryAndOtherLiabilities`	$270.26M	USD	Point-in-time
Advances for construction	`ContractWithCustomerRefundLiabilityNoncurrent`	$191.06M	USD	Point-in-time
Advances for construction	`ContractWithCustomerRefundLiabilityNoncurrent`	$194.05M	USD	Point-in-time
Contributions in aid of construction	`ContributionsInAidOfConstruction`	$242.78M	USD	Point-in-time
Contributions in aid of construction	`ContributionsInAidOfConstruction`	$241.54M	USD	Point-in-time
Commitments and contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
TOTAL CAPITALIZATION AND LIABILITIES	`LiabilitiesAndStockholdersEquity`	$3.11B	USD	Point-in-time
TOTAL CAPITALIZATION AND LIABILITIES	`LiabilitiesAndStockholdersEquity`	$3.24B	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Operating revenue	`RegulatedOperatingRevenueWater`	$125.56M	USD	1 Quarter
Operating revenue	`RegulatedOperatingRevenueWater`	$126.11M	USD	1 Quarter
Water production costs	`UtilitiesOperatingExpenseProductsAndServices`	$53.98M	USD	1 Quarter
Water production costs	`UtilitiesOperatingExpenseProductsAndServices`	$45.59M	USD	1 Quarter
Administrative and general	`GeneralAndAdministrativeExpense`	$29.10M	USD	1 Quarter
Administrative and general	`GeneralAndAdministrativeExpense`	$29.68M	USD	1 Quarter
Other operations	`UtilitiesOperatingExpenseOther`	$13.97M	USD	1 Quarter
Other operations	`UtilitiesOperatingExpenseOther`	$17.82M	USD	1 Quarter
Maintenance	`UtilitiesOperatingExpenseMaintenance`	$7.07M	USD	1 Quarter
Maintenance	`UtilitiesOperatingExpenseMaintenance`	$6.46M	USD	1 Quarter
Depreciation and amortization	`UtilitiesOperatingExpenseDepreciationAndAmortization`	$22.37M	USD	1 Quarter
Depreciation and amortization	`UtilitiesOperatingExpenseDepreciationAndAmortization`	$24.49M	USD	1 Quarter
Income tax benefit	`UtilitiesOperatingExpenseIncomeTaxExpenseBenefit`	$-2.99M	USD	1 Quarter
Income tax benefit	`UtilitiesOperatingExpenseIncomeTaxExpenseBenefit`	$-3.94M	USD	1 Quarter
Property and other taxes	`UtilitiesOperatingExpensePropertyandOtherTaxes`	$7.23M	USD	1 Quarter
Property and other taxes	`UtilitiesOperatingExpensePropertyandOtherTaxes`	$7.29M	USD	1 Quarter
Total operating (income) expenses	`UtilitiesOperatingIncomeExpense`	$125.64M	USD	1 Quarter
Total operating (income) expenses	`UtilitiesOperatingIncomeExpense`	$132.49M	USD	1 Quarter
Net operating (loss) income	`OperatingIncomeLoss`	$-6.92M	USD	1 Quarter
Net operating (loss) income	`OperatingIncomeLoss`	$476.00K	USD	1 Quarter
Non-regulated revenue	`UnregulatedOperatingRevenue`	$3.83M	USD	1 Quarter
Non-regulated revenue	`UnregulatedOperatingRevenue`	$4.90M	USD	1 Quarter
Non-regulated expenses	`OtherNonoperatingExpense`	$2.22M	USD	1 Quarter
Non-regulated expenses	`OtherNonoperatingExpense`	$8.45M	USD	1 Quarter
Other components of net periodic benefit cost	`DefinedBenefitPlanOtherCosts`	$1.26M	USD	1 Quarter
Other components of net periodic benefit cost	`DefinedBenefitPlanOtherCosts`	$1.43M	USD	1 Quarter
Allowance for equity funds used during construction	`PublicUtilitiesAllowanceForFundsUsedDuringConstructionAdditions`	$1.53M	USD	1 Quarter
Allowance for equity funds used during construction	`PublicUtilitiesAllowanceForFundsUsedDuringConstructionAdditions`	$1.61M	USD	1 Quarter
Income tax benefit (expense) on other income and expenses	`UtilitiesNonregulatedExpenseIncomeTaxExpenseBenefit`	$-913.00K	USD	1 Quarter
Income tax benefit (expense) on other income and expenses	`UtilitiesNonregulatedExpenseIncomeTaxExpenseBenefit`	$828.00K	USD	1 Quarter
Net other (loss) income	`OtherNonoperatingIncomeExpense`	$-3.53M	USD	1 Quarter
Net other (loss) income	`OtherNonoperatingIncomeExpense`	$2.13M	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$11.07M	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$10.80M	USD	1 Quarter
Allowance for borrowed funds used during construction	`InterestCostsCapitalizedAdjustment`	$944.00K	USD	1 Quarter
Allowance for borrowed funds used during construction	`InterestCostsCapitalizedAdjustment`	$831.00K	USD	1 Quarter
Net interest expense	`InterestCostsIncurred`	$9.85M	USD	1 Quarter
Net interest expense	`InterestCostsIncurred`	$10.24M	USD	1 Quarter
Net (loss) income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-20.31M	USD	1 Quarter
Net (loss) income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-7.64M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.42	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.16	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.42	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.16	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	48.58M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	48.09M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	48.09M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	48.58M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-20.31M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-7.64M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$22.89M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$25.09M	USD	1 Quarter
Change in value of life insurance contracts	`LifeInsuranceCorporateOrBankOwnedChangeInValue`	$-4.72M	USD	1 Quarter
Change in value of life insurance contracts	`LifeInsuranceCorporateOrBankOwnedChangeInValue`	$2.25M	USD	1 Quarter
Allowance for equity funds used during construction	`PublicUtilitiesAllowanceForFundsUsedDuringConstructionAdditions`	$1.53M	USD	1 Quarter
Allowance for equity funds used during construction	`PublicUtilitiesAllowanceForFundsUsedDuringConstructionAdditions`	$1.61M	USD	1 Quarter
Receivables and unbilled revenue	`IncreaseDecreaseInReceivables`	$-7.26M	USD	1 Quarter
Receivables and unbilled revenue	`IncreaseDecreaseInReceivables`	$-5.15M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-4.23M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-7.38M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$5.03M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$3.77M	USD	1 Quarter
Other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$3.32M	USD	1 Quarter
Other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$5.27M	USD	1 Quarter
Other changes in noncurrent assets and liabilities	`IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet`	$-7.52M	USD	1 Quarter
Other changes in noncurrent assets and liabilities	`IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet`	$3.25M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$20.14M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.07M	USD	1 Quarter
Utility plant expenditures	`PaymentsToAcquireWaterAndWasteWaterSystems`	$65.27M	USD	1 Quarter
Utility plant expenditures	`PaymentsToAcquireWaterAndWasteWaterSystems`	$59.88M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-65.27M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-59.88M	USD	1 Quarter
Short-term borrowings	`ProceedsFromShortTermDebt`	$60.00M	USD	1 Quarter
Short-term borrowings	`ProceedsFromShortTermDebt`	$170.00M	USD	1 Quarter
Repayment of short-term borrowings	`RepaymentsOfShortTermDebt`	-	USD	1 Quarter
Repayment of short-term borrowings	`RepaymentsOfShortTermDebt`	$10.00M	USD	1 Quarter
Repayment of long-term debt	`RepaymentsOfLongTermDebt`	$197.00K	USD	1 Quarter
Repayment of long-term debt	`RepaymentsOfLongTermDebt`	$226.00K	USD	1 Quarter
Advances and contributions in aid of construction	`ProceedsFromContributionInAidOfConstructionFinancingActivities`	$6.04M	USD	1 Quarter
Advances and contributions in aid of construction	`ProceedsFromContributionInAidOfConstructionFinancingActivities`	$6.43M	USD	1 Quarter
Refunds of advances for construction	`RepaymentsOfAdvancesForConstruction`	$2.16M	USD	1 Quarter
Refunds of advances for construction	`RepaymentsOfAdvancesForConstruction`	$1.79M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$1.37M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$2.07M	USD	1 Quarter
Issuance of common stock	`ProceedsFromStockPlans`	$6.51M	USD	1 Quarter
Issuance of common stock	`ProceedsFromStockPlans`	$454.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$10.31M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$9.49M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$158.90M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$52.91M	USD	1 Quarter
Change in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$13.18M	USD	1 Quarter
Change in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$97.70M	USD	1 Quarter
Cash, cash equivalents, and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$47.72M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$43.30M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$60.89M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$141.00M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$47.72M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$43.30M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$60.89M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$141.00M	USD	Point-in-time
Cash paid for interest (net of amounts capitalized)	`InterestPaidNet`	$3.35M	USD	1 Quarter
Cash paid for interest (net of amounts capitalized)	`InterestPaidNet`	$909.00K	USD	1 Quarter
Accrued payables for investments in utility plant	`NoncashOrPartNoncashAcquisitionPayablesAssumed1`	$29.74M	USD	1 Quarter
Accrued payables for investments in utility plant	`NoncashOrPartNoncashAcquisitionPayablesAssumed1`	$38.02M	USD	1 Quarter
Utility plant contribution by developers	`UtilityPlantContributionByDevelopers`	$8.01M	USD	1 Quarter
Utility plant contribution by developers	`UtilityPlantContributionByDevelopers`	$4.11M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.