CALIFORNIA WATER SERVICE GROUP CWT Income Statement

California water service group (CWT)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
Operating revenue
125,563	176,878	232,537	179,031	126,111	167,417	221,288	174,938	134,553	171,214	211,731	171,132	122,036	150,930	184,268	152,445	121,727	138,426	183,543	144,414	121,985	137,384	191,184	158,416	110,515	133,700	184,404	154,555	111,444	121,530	178,135	143,552	116,749	103,014	169,254	131,397	98,149	105,457	146,349	118,321	90,272	139,167	116,667
Operations:
Purchased water
53,976	21,666	80,568	64,635	45,592	15,306	78,818	65,373	47,606	17,621	75,261	64,131	42,068	12,682	70,175	57,589	41,069	9,896	60,437	53,022	45,202	3,587	66,980	61,915	45,402	11,090	70,614	59,645	41,697	3,217	66,489	52,678	38,952	4,274	61,593	44,745	31,958	-993	54,634	41,834	30,455	48,898	41,702
Administrative and general
29,680	27,307	26,779	25,434	29,097	23,586	26,493	24,383	26,319	26,418	22,749	21,413	22,746	12,564	23,844	23,366	27,827	28,041	30,737	26,637	27,695	24,671	23,765	23,796	25,141	24,949	24,670	23,155	25,281	24,817	23,925	22,167	23,018	23,056	21,646	20,554	20,502	21,558	17,794	18,480	17,444	19,084	19,386
Other operations
13,974	25,148	24,550	22,542	17,821	19,561	21,943	20,724	17,640	18,788	21,208	18,328	16,124	22,316	19,561	18,903	19,302	16,021	17,872	17,512	15,843	17,735	15,692	16,004	16,376	19,406	17,657	17,030	15,645	17,891	17,658	17,729	23,826	6,817	17,506	15,738	14,635	13,314	14,889	14,749	13,566	14,639	14,330
Maintenance
7,073	7,622	7,065	5,692	6,455	6,898	6,768	5,389	5,439	5,653	6,057	4,708	6,112	5,451	5,545	5,934	6,063	5,728	5,952	5,326	4,457	5,061	4,800	4,988	5,005	4,472	4,575	4,188	4,133	4,400	4,377	4,605	5,760	5,560	4,651	5,288	5,199	4,723	4,853	5,158	4,951	4,405	4,312
Depreciation and amortization
24,492	22,253	22,273	22,326	22,368	21,104	21,009	20,953	20,715	19,133	19,231	19,218	19,201	15,827	15,884	15,842	16,046	15,366	15,342	15,354	15,319	14,429	14,648	16,087	16,053	14,695	14,505	14,491	14,629	13,285	13,720	13,712	13,951	12,695	12,729	12,373	12,588	10,464	10,934	10,638	10,792	10,259	10,282
Income tax benefit
-3,937	2,756	12,194	4,321	-2,991	1,639	11,786	4,870	294	7,338	18,219	10,606	-884	10,043	13,247	6,870	-925	3,520	15,293	5,102	613	4,143	19,233	7,190	-3,839	-520	11,165	9,548	-1,146	-121	10,387	9,062	28	-	-	-	-	1,750	12,825	7,091	1,403	13,417	6,789
Property and other taxes
7,228	6,890	7,541	7,068	7,293	7,043	7,142	6,407	6,704	6,080	6,544	6,057	6,116	5,792	5,957	5,407	6,075	5,523	5,709	4,968	5,359	5,132	5,232	5,144	5,225	4,945	5,414	5,715	5,435	5,425	5,218	3,977	4,607	4,096	5,170	4,506	4,560	4,558	4,555	4,087	3,903	4,371	3,911
Total operating (income) expenses
132,486	156,522	180,970	152,018	125,635	140,881	173,959	148,099	124,717	143,817	169,269	144,461	111,483	123,153	154,213	133,911	115,457	123,464	151,342	127,921	114,488	120,815	150,350	135,124	109,363	122,052	148,600	133,772	105,674	110,277	141,774	123,930	110,142	95,428	139,176	111,842	88,201	93,551	120,484	102,037	82,514	115,073	100,712
Income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	15,881	8,638	-1,241	-	674	-5	-55	702	992
Net operating (loss) income
-6,923	20,356	51,567	27,013	476	26,536	47,329	26,839	9,836	27,397	42,462	26,671	10,553	27,777	30,055	18,534	6,270	14,962	32,201	16,493	7,497	16,569	40,834	23,292	1,152	11,648	35,804	20,783	5,770	11,253	36,361	19,622	6,607	7,586	30,078	19,555	9,948	11,906	25,865	16,284	7,758	24,094	15,955
Other income and expenses:
Non-regulated revenue
3,827	5,056	4,118	5,130	4,901	4,305	4,703	4,845	4,419	5,155	3,542	3,739	3,462	5,996	3,397	3,764	3,428	5,084	3,814	3,479	3,247	5,155	4,409	3,474	4,280	4,409	3,649	3,215	3,522	4,743	3,756	4,051	4,136	4,663	3,425	3,739	4,333	5,029	3,850	3,692	3,422	5,194	3,098
Non-regulated expenses
8,454	3,399	4,351	3,900	2,219	6,338	4,897	6,115	5,437	3,146	2,576	1,614	2,054	3,139	2,517	2,809	2,980	3,843	4,454	3,504	2,243	3,101	4,812	2,253	4,119	2,783	2,825	3,240	2,417	3,062	2,697	3,695	2,099	2,462	6,489	3,447	3,424	2,861	2,214	3,691	3,546	3,464	721
Other components of net periodic benefit cost
1,430	1,425	1,857	1,192	1,259	2,324	1,975	2,463	2,546	2,565	2,137	2,383	2,503	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Allowance for equity funds used during construction
1,614	1,598	1,868	1,686	1,533	1,310	1,023	710	911	987	1,105	879	779	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	33	-	-	-	72
Income tax benefit (expense) on other income and expenses
-913	406	-330	487	828	-835	-305	-819	-758	443	-30	246	889	-3,333	349	384	181	630	-262	-10	403	854	-169	481	79	657	330	-16	451	713	422	138	823	917	-1,254	112	366	-	-	-	-	-	-
Net other (loss) income
-3,530	1,452	108	1,237	2,128	-2,162	-841	-2,204	-1,895	651	-36	375	-1,205	-4,829	531	571	267	926	-378	-15	601	1,251	-234	740	82	969	494	-9	654	1,052	637	218	1,214	1,346	-1,810	180	543	1,289	995	1	-69	1,028	1,457
Interest expense:
Interest expense
10,798	11,359	10,279	12,178	11,075	9,710	10,875	10,134	9,198	9,215	9,284	9,079	8,710	8,482	8,485	8,434	8,065	7,854	7,201	7,061	7,069	7,110	7,221	7,077	7,075	7,370	7,687	7,803	8,037	8,053	8,024	7,821	7,639	7,899	8,007	8,061	8,488	7,549	6,958	6,939	6,490	6,480	5,962
Allowance for borrowed funds used during construction
944	887	1,028	924	831	704	560	304	495	595	707	564	494	624	774	837	730	443	498	428	546	684	271	215	365	419	540	539	540	754	798	946	903	3,215	-674	-516	716	3,901	-484	-1,035	-819	-950	-640
Net interest expense
9,854	10,472	9,251	11,254	10,244	9,006	10,315	9,830	8,703	8,620	8,577	8,515	8,216	7,858	7,711	7,597	7,335	7,411	6,703	6,633	6,523	6,426	6,950	6,862	6,710	6,951	7,147	7,264	7,497	7,299	7,226	6,875	6,736	7,064	7,333	7,545	7,772	8,324	6,474	5,904	5,671	5,530	5,322
Net Income (Loss) Available to Common Stockholders, Basic
-20,307	11,336	42,424	16,996	-7,640	15,368	36,173	14,805	-762	19,428	33,849	18,531	1,132	15,090	22,875	11,508	-798	8,477	25,120	9,845	1,575	11,394	33,650	17,170	-5,476	5,666	29,151	13,510	-1,073	5,006	29,772	12,965	1,085	1,868	20,935	12,190	2,719	4,871	20,386	10,381	2,018	19,592	12,090
Loss per share:
Basic (in dollars per share)
-0.42	0.24	0.88	0.35	-0.16	0.32	0.75	0.31	-0.02	0.41	0.70	0.39	0.02	0.32	0.48	0.24	-0.02	0.18	0.52	0.21	0.03	0.24	0.70	0.36	-0.11	0.16	0.61	0.28	-0.03	0.12	0.71	0.31	0.03	0.04	0.50	0.29	0.07	0.06	0.49	0.25	0.10	0.94	0.58
Diluted (in dollars per share)
-0.42	0.24	0.88	0.35	-0.16	0.32	0.75	0.31	-0.02	0.41	0.70	0.39	0.02	0.31	0.48	0.24	-0.02	0.18	0.52	0.21	0.03	0.24	0.70	0.36	-0.11	0.16	0.61	0.28	-0.03	0.12	0.71	0.31	0.03	0.04	0.50	0.29	0.07	0.06	0.49	0.25	0.10	0.94	0.58
Weighted average shares outstanding:
Basic (in shares)
48,583	48,309	48,141	48,136	48,086	48,067	48,070	48,073	48,030	48,015	48,017	48,020	47,984	47,966	47,969	47,972	47,905	47,877	47,878	47,880	47,825	47,801	47,803	47,804	47,756	47,822	47,737	47,729	42,248	41,910	41,905	41,911	41,842	41,820	41,780	41,752	41,696	62,442	41,622	41,606	20,778	20,745	20,745
Diluted (in shares)
48,583	48,309	48,141	48,136	48,086	48,067	48,070	48,073	48,030	48,015	48,017	48,020	47,984	47,978	47,969	47,972	47,905	47,887	47,887	47,892	47,854	47,883	47,840	47,837	47,756	47,890	47,770	47,760	42,248	41,910	41,905	41,911	41,842	41,819	41,789	41,768	41,712	62,475	41,648	41,636	20,793	20,767	20,767
Dividends declared per share of common stock (in dollars per share)
-	-	-	-	-	-	-	-	-	-	0.18	0.18	0.18	-	0.17	0.17	0.17	-	0.16	0.16	0.16	-	0.16	0.16	0.16	-	0.16	0.16	0.16	-	0.15	0.15	0.15	-	0.15	0.15	0.15	-	0.14	0.14	0.29	0.29	0.29