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10-Q Filing

CALIFORNIA WATER SERVICE GROUP CIK: 1035201 Q1 2022
Filing Information
Form Type 10-Q
Accession Number 0001035201-22-000005
Period End Date 20220331
Filing Date 20220428
Fiscal Year 2022
Fiscal Period Q1
XBRL Instance cwt-20220331_htm.xml
Filing Contents

This filing contains the following financial statements:

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 $4.26B USD Point-in-time
Utility plant PublicUtilitiesPropertyPlantAndEquipmentPlantInService $4.20B USD Point-in-time
Common stock, shares outstanding (in shares) CommonStockSharesOutstanding 53.77M shares Point-in-time
Common stock, shares outstanding (in shares) CommonStockSharesOutstanding 53.72M shares Point-in-time
Less accumulated depreciation and amortization PublicUtilitiesPropertyPlantAndEquipmentAccumulatedDepreciation $1.35B USD Point-in-time
Less accumulated depreciation and amortization PublicUtilitiesPropertyPlantAndEquipmentAccumulatedDepreciation $1.37B USD Point-in-time
Net utility plant PublicUtilitiesPropertyPlantAndEquipmentNet $2.89B USD Point-in-time
Net utility plant PublicUtilitiesPropertyPlantAndEquipmentNet $2.85B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $78.38M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $68.38M USD Point-in-time
Customers, net AccountsReceivableNetCurrent $50.28M USD Point-in-time
Customers, net AccountsReceivableNetCurrent $60.78M USD Point-in-time
Regulatory balancing accounts RegulatoryAssetsCurrent $78.60M USD Point-in-time
Regulatory balancing accounts RegulatoryAssetsCurrent $68.04M USD Point-in-time
Other, net NontradeReceivablesCurrent $18.07M USD Point-in-time
Other, net NontradeReceivablesCurrent $18.45M USD Point-in-time
Unbilled revenue, net ReceivablesLongTermContractsOrPrograms $34.95M USD Point-in-time
Unbilled revenue, net ReceivablesLongTermContractsOrPrograms $32.76M USD Point-in-time
Materials and supplies at weighted average cost PublicUtilitiesInventory $9.51M USD Point-in-time
Materials and supplies at weighted average cost PublicUtilitiesInventory $10.53M USD Point-in-time
Taxes, prepaid expenses, and other assets TaxesPrepaidExpensesAndOtherAssetsCurrent $22.23M USD Point-in-time
Taxes, prepaid expenses, and other assets TaxesPrepaidExpensesAndOtherAssetsCurrent $21.97M USD Point-in-time
Total current assets AssetsCurrent $300.46M USD Point-in-time
Total current assets AssetsCurrent $272.47M USD Point-in-time
Regulatory assets RegulatoryAssetsNoncurrent $285.69M USD Point-in-time
Regulatory assets RegulatoryAssetsNoncurrent $291.58M USD Point-in-time
Goodwill Goodwill $36.81M USD Point-in-time
Goodwill Goodwill $36.81M USD Point-in-time
Other assets OtherAssetsNoncurrent $153.44M USD Point-in-time
Other assets OtherAssetsNoncurrent $150.96M USD Point-in-time
Total other assets TotalOtherAssets $479.35M USD Point-in-time
Total other assets TotalOtherAssets $475.95M USD Point-in-time
TOTAL ASSETS Assets $3.64B USD Point-in-time
TOTAL ASSETS Assets $3.62B USD Point-in-time
Common stock, $0.01 par value; 68,000 shares authorized, 53,773 and 53,716 outstanding in 2022 and 2021, respectively CommonStockValue $538.00K USD Point-in-time
Common stock, $0.01 par value; 68,000 shares authorized, 53,773 and 53,716 outstanding in 2022 and 2021, respectively CommonStockValue $537.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $651.12M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $650.50M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $513.59M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $525.94M USD Point-in-time
Noncontrolling interests MinorityInterest $5.25M USD Point-in-time
Noncontrolling interests MinorityInterest $5.39M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $929.80M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $921.34M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.18B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.17B USD Point-in-time
Long-term debt, net LongTermDebtNoncurrent $1.06B USD Point-in-time
Long-term debt, net LongTermDebtNoncurrent $1.06B USD Point-in-time
Total capitalization CapitalizationLongtermDebtAndEquity $2.23B USD Point-in-time
Total capitalization CapitalizationLongtermDebtAndEquity $2.24B USD Point-in-time
Current maturities of long-term debt, net LongTermDebtCurrent $5.21M USD Point-in-time
Current maturities of long-term debt, net LongTermDebtCurrent $5.19M USD Point-in-time
Short-term borrowings ShortTermBorrowings $35.00M USD Point-in-time
Short-term borrowings ShortTermBorrowings $50.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $144.37M USD Point-in-time
Accounts payable AccountsPayableCurrent $140.83M USD Point-in-time
Regulatory balancing accounts RegulatoryLiabilityCurrent $12.02M USD Point-in-time
Regulatory balancing accounts RegulatoryLiabilityCurrent $17.55M USD Point-in-time
Accrued interest InterestPayableCurrent $6.54M USD Point-in-time
Accrued interest InterestPayableCurrent $17.12M USD Point-in-time
Accrued expenses and other liabilities AccruedLiabilitiesAndOtherLiabilities $56.65M USD Point-in-time
Accrued expenses and other liabilities AccruedLiabilitiesAndOtherLiabilities $47.93M USD Point-in-time
Total current liabilities LiabilitiesCurrent $281.82M USD Point-in-time
Total current liabilities LiabilitiesCurrent $256.58M USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $298.69M USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $298.94M USD Point-in-time
Pension OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent $93.54M USD Point-in-time
Pension OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent $92.29M USD Point-in-time
Regulatory liabilities and other RegulatoryAndOtherLiabilities $253.65M USD Point-in-time
Regulatory liabilities and other RegulatoryAndOtherLiabilities $252.94M USD Point-in-time
Advances for construction ContractWithCustomerRefundLiabilityNoncurrent $198.20M USD Point-in-time
Advances for construction ContractWithCustomerRefundLiabilityNoncurrent $198.09M USD Point-in-time
Contributions in aid of construction ContributionsInAidOfConstruction $287.83M USD Point-in-time
Contributions in aid of construction ContributionsInAidOfConstruction $285.67M 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 $3.62B USD Point-in-time
TOTAL CAPITALIZATION AND LIABILITIES LiabilitiesAndStockholdersEquity $3.64B USD Point-in-time
Income Statement 52 line items
Line Item Tag Value Unit Period
Operating revenue RegulatedOperatingRevenueWater $147.74M USD 1 Quarter
Operating revenue RegulatedOperatingRevenueWater $172.99M USD 1 Quarter
Water production costs UtilitiesOperatingExpenseProductsAndServices $61.54M USD 1 Quarter
Water production costs UtilitiesOperatingExpenseProductsAndServices $54.83M USD 1 Quarter
Administrative and general GeneralAndAdministrativeExpense $30.37M USD 1 Quarter
Administrative and general GeneralAndAdministrativeExpense $33.41M USD 1 Quarter
Other operations UtilitiesOperatingExpenseOther $17.91M USD 1 Quarter
Other operations UtilitiesOperatingExpenseOther $25.85M USD 1 Quarter
Maintenance UtilitiesOperatingExpenseMaintenance $6.77M USD 1 Quarter
Maintenance UtilitiesOperatingExpenseMaintenance $7.34M USD 1 Quarter
Depreciation and amortization UtilitiesOperatingExpenseDepreciationAndAmortization $28.77M USD 1 Quarter
Depreciation and amortization UtilitiesOperatingExpenseDepreciationAndAmortization $27.05M USD 1 Quarter
Income tax benefit UtilitiesOperatingExpenseIncomeTaxExpenseBenefit $-101.00K USD 1 Quarter
Income tax benefit UtilitiesOperatingExpenseIncomeTaxExpenseBenefit $-1.42M USD 1 Quarter
Property and other taxes UtilitiesOperatingExpenseTaxes $8.36M USD 1 Quarter
Property and other taxes UtilitiesOperatingExpenseTaxes $8.00M USD 1 Quarter
Total operating expenses UtilitiesOperatingExpense $144.82M USD 1 Quarter
Total operating expenses UtilitiesOperatingExpense $163.85M USD 1 Quarter
Net operating income OperatingIncomeLoss $9.14M USD 1 Quarter
Net operating income OperatingIncomeLoss $2.92M USD 1 Quarter
Non-regulated revenue UnregulatedOperatingRevenue $5.57M USD 1 Quarter
Non-regulated revenue UnregulatedOperatingRevenue $5.20M USD 1 Quarter
Non-regulated expenses OtherNonoperatingExpense $4.76M USD 1 Quarter
Non-regulated expenses OtherNonoperatingExpense $6.99M USD 1 Quarter
Other components of net periodic benefit credit DefinedBenefitPlanOtherCosts $-4.01M USD 1 Quarter
Other components of net periodic benefit credit DefinedBenefitPlanOtherCosts $-2.98M USD 1 Quarter
Allowance for equity funds used during construction PublicUtilitiesAllowanceForFundsUsedDuringConstructionAdditions $544.00K USD 1 Quarter
Allowance for equity funds used during construction PublicUtilitiesAllowanceForFundsUsedDuringConstructionAdditions $975.00K USD 1 Quarter
Income tax expense on other income and expenses UtilitiesNonregulatedExpenseIncomeTaxExpenseBenefit $358.00K USD 1 Quarter
Income tax expense on other income and expenses UtilitiesNonregulatedExpenseIncomeTaxExpenseBenefit $512.00K USD 1 Quarter
Net other income OtherNonoperatingIncomeExpense $2.69M USD 1 Quarter
Net other income OtherNonoperatingIncomeExpense $3.98M USD 1 Quarter
Interest expense InterestExpenseDebt $10.22M USD 1 Quarter
Interest expense InterestExpenseDebt $11.49M USD 1 Quarter
Allowance for borrowed funds used during construction InterestCostsCapitalizedAdjustment $563.00K USD 1 Quarter
Allowance for borrowed funds used during construction InterestCostsCapitalizedAdjustment $294.00K USD 1 Quarter
Net interest expense InterestCostsIncurred $10.93M USD 1 Quarter
Net interest expense InterestCostsIncurred $9.93M USD 1 Quarter
Net income (loss) ProfitLoss $-3.03M USD 1 Quarter
Net income (loss) ProfitLoss $894.00K USD 1 Quarter
Net loss attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest - USD 1 Quarter
Net loss attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $-192.00K USD 1 Quarter
Net income (loss) attributable to California Water Service Group NetIncomeLoss $-3.03M USD 1 Quarter
Net income (loss) attributable to California Water Service Group NetIncomeLoss $1.09M USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $-0.06 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.02 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.02 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $-0.06 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 53.73M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 50.44M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 53.77M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 50.44M shares 1 Quarter
Cash Flow Statement 70 line items
Line Item Tag Value Unit Period
Net income (loss) ProfitLoss $-3.03M USD 1 Quarter
Net income (loss) ProfitLoss $894.00K USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $29.48M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $27.67M USD 1 Quarter
Change in value of life insurance contracts LifeInsuranceCorporateOrBankOwnedChangeInValue $349.00K USD 1 Quarter
Change in value of life insurance contracts LifeInsuranceCorporateOrBankOwnedChangeInValue $-2.92M USD 1 Quarter
Allowance for equity funds used during construction PublicUtilitiesAllowanceForFundsUsedDuringConstructionAdditions $544.00K USD 1 Quarter
Allowance for equity funds used during construction PublicUtilitiesAllowanceForFundsUsedDuringConstructionAdditions $975.00K USD 1 Quarter
Receivables and unbilled revenue IncreaseDecreaseInReceivables $-6.26M USD 1 Quarter
Receivables and unbilled revenue IncreaseDecreaseInReceivables $10.08M USD 1 Quarter
Water Arrearages Payment Program IncreaseDecreaseInAllowanceForCreditLossesWaterArrearagesPaymentProgram - USD 1 Quarter
Water Arrearages Payment Program IncreaseDecreaseInAllowanceForCreditLossesWaterArrearagesPaymentProgram $-20.84M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-11.62M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-10.22M USD 1 Quarter
Other current assets IncreaseDecreaseInOtherCurrentAssets $152.00K USD 1 Quarter
Other current assets IncreaseDecreaseInOtherCurrentAssets $75.00K USD 1 Quarter
Other current liabilities IncreaseDecreaseInOtherCurrentLiabilities $12.66M USD 1 Quarter
Other current liabilities IncreaseDecreaseInOtherCurrentLiabilities $12.37M USD 1 Quarter
Other changes in noncurrent assets and liabilities IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet $2.02M USD 1 Quarter
Other changes in noncurrent assets and liabilities IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet $-10.15M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $29.98M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $54.19M USD 1 Quarter
Utility plant expenditures PaymentsToAcquireWaterAndWasteWaterSystems $66.82M USD 1 Quarter
Utility plant expenditures PaymentsToAcquireWaterAndWasteWaterSystems $68.50M USD 1 Quarter
Life insurance proceeds ProceedsFromLifeInsurancePolicies $1.73M USD 1 Quarter
Life insurance proceeds ProceedsFromLifeInsurancePolicies - USD 1 Quarter
Purchase of life insurance contracts PaymentsToAcquireLifeInsurancePolicies - USD 1 Quarter
Purchase of life insurance contracts PaymentsToAcquireLifeInsurancePolicies $1.73M USD 1 Quarter
Payment for investment PaymentsToAcquireEquityMethodInvestments $2.90M USD 1 Quarter
Payment for investment PaymentsToAcquireEquityMethodInvestments - USD 1 Quarter
Asset acquisition PaymentsForAssetAcquisitions $180.00K USD 1 Quarter
Asset acquisition PaymentsForAssetAcquisitions - USD 1 Quarter
Return of investment ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital - USD 1 Quarter
Return of investment ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital $1.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-68.68M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-68.72M USD 1 Quarter
Short-term borrowings ProceedsFromShortTermDebt $105.00M USD 1 Quarter
Short-term borrowings ProceedsFromShortTermDebt $30.00M USD 1 Quarter
Repayment of short-term borrowings RepaymentsOfShortTermDebt $40.00M USD 1 Quarter
Repayment of short-term borrowings RepaymentsOfShortTermDebt $15.00M USD 1 Quarter
Repayment of long-term debt RepaymentsOfLongTermDebt $198.00K USD 1 Quarter
Repayment of long-term debt RepaymentsOfLongTermDebt $176.00K USD 1 Quarter
Advances and contributions in aid of construction ProceedsFromContributionInAidOfConstructionFinancingActivities $6.47M USD 1 Quarter
Advances and contributions in aid of construction ProceedsFromContributionInAidOfConstructionFinancingActivities $7.77M USD 1 Quarter
Refunds of advances for construction RepaymentsOfAdvancesForConstruction $2.35M USD 1 Quarter
Refunds of advances for construction RepaymentsOfAdvancesForConstruction $2.71M USD 1 Quarter
Repurchase of common stock PaymentsForRepurchaseOfCommonStock $1.67M USD 1 Quarter
Repurchase of common stock PaymentsForRepurchaseOfCommonStock $1.42M USD 1 Quarter
Issuance of common stock ProceedsFromIssuanceOfCommonStock $564.00K USD 1 Quarter
Issuance of common stock ProceedsFromIssuanceOfCommonStock $23.18M USD 1 Quarter
Dividends paid PaymentsOfDividendsCommonStock $13.43M USD 1 Quarter
Dividends paid PaymentsOfDividendsCommonStock $11.58M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $78.76M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $5.68M USD 1 Quarter
Change in cash, cash equivalents, and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-8.80M USD 1 Quarter
Change in cash, cash equivalents, and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $40.02M USD 1 Quarter
Cash, cash equivalents, and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $85.15M USD Point-in-time
Cash, cash equivalents, and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $80.65M USD Point-in-time
Cash, cash equivalents, and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $71.85M USD Point-in-time
Cash, cash equivalents, and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $45.13M USD Point-in-time
Cash, cash equivalents, and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $85.15M USD Point-in-time
Cash, cash equivalents, and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $80.65M USD Point-in-time
Cash, cash equivalents, and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $71.85M USD Point-in-time
Cash, cash equivalents, and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $45.13M USD Point-in-time
Cash paid for interest (net of amounts capitalized) InterestPaidNet $1.23M USD 1 Quarter
Cash paid for interest (net of amounts capitalized) InterestPaidNet $187.00K USD 1 Quarter
Accrued payables for investments in utility plant CapitalExpendituresIncurredButNotYetPaid $48.55M USD 1 Quarter
Accrued payables for investments in utility plant CapitalExpendituresIncurredButNotYetPaid $57.73M USD 1 Quarter
Utility plant contribution by developers NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1 $5.90M USD 1 Quarter
Utility plant contribution by developers NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1 $5.77M USD 1 Quarter

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

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