American States Water Co. Files Q3 2024 10-Q

TL;DR

**ASW files Q3 10-Q. Water utility update.**

AI Summary

American States Water Co. reported its third-quarter results for the period ending September 30, 2024. The company, which operates through its subsidiary Golden State Water Company, is involved in the water supply industry. Specific financial figures and operational details for this quarter were not provided in the header information.

Why It Matters

This filing provides investors with an update on the financial performance and operational status of American States Water Co. and its subsidiary, Golden State Water Company, for the third quarter of 2024.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial and operational updates for a regulated utility company.

Key Numbers

• 2024-09-30 — Reporting Period End (The company's financial and operational data is reported as of this date.)
• 2024-11-06 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)

Key Players & Entities

• AMERICAN STATES WATER CO (company) — Filer
• Golden State Water CO (company) — Subsidiary
• 20240930 (date) — Reporting Period End Date
• 20241106 (date) — Filing Date

FAQ

Filing Documents

• awr-20240930.htm (10-Q) — 2294KB
• awr-20240930xex311.htm (EX-31.1) — 16KB
• awr-20240930xex3111.htm (EX-31.1 1) — 15KB
• awr-20230930xex312.htm (EX-31.2) — 16KB
• awr-20240930xex3121.htm (EX-31.2 1) — 16KB
• awr-20240930xex321.htm (EX-32.1) — 7KB
• awr-20240930xex322.htm (EX-32.2) — 8KB
• 0001628280-24-045760.txt ( ) — 8341KB
• awr-20240930.xsd (EX-101.SCH) — 45KB
• awr-20240930_cal.xml (EX-101.CAL) — 82KB
• awr-20240930_def.xml (EX-101.DEF) — 326KB
• awr-20240930_lab.xml (EX-101.LAB) — 584KB
• awr-20240930_pre.xml (EX-101.PRE) — 430KB
• awr-20240930_htm.xml (XML) — 1156KB

Financial Statements

Financial Statements 1 Consolidated Balance Sheets of American States Water Company as of September 30, 2024 and December 31, 2023 2 Consolidated Statements of Income of American States Water Company for the Three and Nine Months Ended September 30, 2024 and 2023 4 Consolidated Statements of Changes in Common Shareholders' Equity for the Nine Months Ended September 30, 2024 5 Consolidated Statements of Changes in Common Shareholders' Equity for the Nine Months Ended September 30, 2023 6 Consolidated Statements of Cash Flows of American States Water Company for the Nine Months Ended September 30, 2024 and 2023 7 Balance Sheets of Golden State Water Company as of September 30, 2024 and December 31, 2023 8 10 11 13 13

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 14 Item 2:

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Item 3:

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 57 Item 4:

Controls and Procedures

Controls and Procedures 57 Part II Other Information Item 1:

Legal Proceedings

Legal Proceedings 58 Item 1A:

Risk Factors

Risk Factors 58 Item 2: Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities 58 Item 3: Defaults Upon Senior Securities 58 Item 4: Mine Safety Disclosure 58 Item 5: Other Information 59 Item 6: Exhibits 60

Signatures

Signatures 62 GLOSSARY OF TERMS The following terms and acronyms used in this Form 10-Q are defined below: Term or Acronym Definition ASUS American States Utility Services, Inc. ATM At-The-Market Offering Program AWR American States Water Company BSUS Bay State Utility Services LLC BVES Bear Valley Electric Service, Inc. Cal Advocates Public Advocates Office of the California Public Utilities Commission COC Cost of Capital CPUC California Public Utilities Commission DDW Division of Drinking Water ECUS Emerald Coast Utility Services, Inc. EPA Economic Price Adjustment EPS Earnings Per Share Exchange Act Securities Exchange Act of 1934, as amended FBWS Fort Bliss Water Services Company FRUS Fort Riley Utility Services, Inc. GAAP Generally Accepted Accounting Principles in the United States of America gpcd Gallons Per Capita Per Day GSWC Golden State Water Company MCBA Modified Cost Balancing Account MCL Maximum Contamination Level Moody's Moody's Investors Service ODUS Old Dominion Utility Services, Inc. OEIS Office of Energy Infrastructure Safety ONUS Old North Utility Services, Inc. PFAS Perfluoroalkyl Substances PFOA Perfluorooctanoic Acid Projects Storage System and the Bear Valley Solar Energy Project PRUS Patuxent River Utility Services LLC PSUS Palmetto State Utility Services, Inc. REA Request for Equitable Adjustment Registrant American States Water Company and Golden State Water Company SB Senate Bill SEC Securities and Exchange Commission SERP Supplemental Executive Retirement Plan SWRCB State Water Resources Control Board TUS Terrapin Utility Services, Inc. U.S. United States WCCM Water Cost of Capital Mechanism WMP Wildfire Mitigation Plan WRAM Water Revenue Adjustment Mechanism INFORMATION REGARDING FORWARD-LOOKING STATEMENTS This Form 10-Q contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect the current views of ou

Financial Statements

Item 1. Financial Statements General The basic financial statements included herein have been prepared by Registrant, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, all adjustments consisting of normal recurring items and estimates necessary for a fair statement of results for the interim period have been made. It is suggested that these financial statements be read in conjunction with the financial statements and notes thereto in the latest Annual Report on Form 10-K of American States Water Company and its wholly owned subsidiary, Golden State Water Company. Filing Format American States Water Company ("AWR") is the parent company of Golden State Water Company ("GSWC"), Bear Valley Electric Service, Inc. ("BVES") and American States Utility Services, Inc. and its subsidiaries ("ASUS"). This quarterly report on Form 10-Q is a combined report being filed by two separate Registrants: AWR and GSWC. For more information, please see Note 1 of the Notes to Consolidated Financial Statements and the heading titled "General" in "Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations." References in this report to "Registrant" are to AWR and GSWC, collectively, unless otherwise specified. GSWC makes no representations as to the information contained in this report other than with respect to itself. 1 Table of Contents AMERICAN STATES WATER COMPANY CONSOLIDATED BALANCE SHEETS ASSETS (Unaudited) (in thousands) September 30, 2024 December 31, 2023 Property, Plant and Equipment Regulated utility plant, at cost $ 2,638,276 $ 2,476,509 Non-utility property, at cost 43,389 40,243 Total 2,681

View Full Filing

View this 10-Q filing on SEC EDGAR