v3.25.3
Segment Reporting
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
H2O America’s single reportable segment provides water utility and utility-related services to its customers through H2O America’s subsidiaries, SJWC, CWC, TWC, MWC, and Acequia, which are aggregated and referred to as “Water Utility Services.” Water Utility Services’ activities are water utility operations with both regulated and non-tariffed businesses. Other business activities that do not comprise separately reportable segments primarily include SJWC’s City of Cupertino service concession arrangement operations, property management and investment activity conducted by SJW Land Company and Chester Realty, Inc., contract water and sewer operations and other water-related services provided by NEWUS and are referred to as “Other Services.”
H2O America’s operating segments have been determined based on information used by the chief operating decision maker. H2O America’s chief operating decision makers (“CODM”) include the Chief Executive Officer; the Chief Financial Officer and Treasurer; the President and Chief Operating Officer; the President of Shared Services and Senior Vice President and Chief Administrative Officer; and the Vice President and General Counsel. However, ultimate decision-making authority rests with the Chief Executive Officer. The CODM reviews financial information presented on a consolidated basis that is accompanied by certain disaggregated information about operating revenue, expenses, net income, and total assets. The CODM uses net income to assess the financial performance of the segments and allocate resources (including employees, financial, or capital resources) in the budgeting and forecasting process.
Certain allocated assets, such as goodwill, revenue and expenses have been included in the reportable segment amounts. Certain corporate costs and expenses are not allocated to Water Utility Services or Other Services and are shown separately to reconcile to the applicable consolidated amounts. As previously disclosed, H2O America updated its segment presentation in the fourth quarter of 2024. Accordingly, prior period information has been recast to conform with the current period presentation.
The following tables set forth information relating to H2O America's reportable segment and other business activities:
 
For the three months ended September 30, 2025
Reportable Segment
 Water Utility ServicesOther Services (1)
Unallocated Corporate (2)
Consolidated
Operating revenue$236,222 4,328 — 240,550 
Less:
Production expenses96,411 1,909 — 98,320 
Administrative and general30,599 251 456 31,306 
Maintenance7,100 916 — 8,016 
Property taxes and other non-income taxes9,563 21 (68)9,516 
Depreciation and amortization28,505 30 230 28,765 
Interest on long-term debt and other interest expense12,600 — 5,298 17,898 
Provision (benefit) for income taxes5,743 591 (543)5,791 
Other (3)(1,435)(370)(2,389)(4,194)
Net income (loss)$47,136 980 (2,984)45,132 
Capital expenditures$153,212 — — 153,212 
 
For the three months ended September 30, 2024
Reportable Segment
 Water Utility ServicesOther Services (1)
Unallocated Corporate (2)
Consolidated
Operating revenue$220,938 4,125 — 225,063 
Less:
Production expenses93,788 1,918 — 95,706 
Administrative and general23,706 483 1,519 25,708 
Maintenance8,103 409 — 8,512 
Property taxes and other non-income taxes9,220 107 34 9,361 
Depreciation and amortization27,112 87 224 27,423 
Interest on long-term debt and other interest expense11,516 75 5,925 17,516 
Provision for income taxes
1,182 404 342 1,928 
Other (3)2,493 (240)(1,996)257 
Net income (loss)$43,818 882 (6,048)38,652 
Capital expenditures$100,885 — — 100,885 
For the nine months ended September 30, 2025
Reportable Segment
Water Utility ServicesOther Services (1)
Unallocated Corporate (2)
Consolidated
Operating revenue$596,052 10,352 — 606,404 
Less:
Production expenses233,720 4,436 — 238,156 
Administrative and general82,317 1,063 4,481 87,861 
Maintenance20,848 2,137 — 22,985 
Property taxes and other non-income taxes27,278 (29)(32)27,217 
Depreciation and amortization85,022 91 684 85,797 
Interest on long-term debt and other interest expense38,358 — 15,934 54,292 
Provision (benefit) for income taxes17,755 1,100 (4,923)13,932 
Other (3)(4,305)(507)(5,382)(10,194)
Net income (loss)$95,059 2,061 (10,762)86,358 
Capital expenditures$369,615 — — 369,615 
For the nine months ended September 30, 2024
Reportable Segment
Water Utility ServicesOther Services (1)
Unallocated Corporate (2)
Consolidated
Operating revenue$537,899 12,720 — 550,619 
Less:
Production expenses214,001 3,969 — 217,970 
Administrative and general66,848 2,113 3,003 71,964 
Maintenance21,607 1,473 — 23,080 
Property taxes and other non-income taxes26,273 365 (28)26,610 
Depreciation and amortization83,230 259 670 84,159 
Interest on long-term debt and other interest expense35,095 520 17,779 53,394 
Provision (benefit) for income taxes10,203 1,221 (3,541)7,883 
Other (3)(1,962)335 (3,861)(5,488)
Net income (loss)$82,604 2,465 (14,022)71,047 
Capital expenditures$271,032 — — 271,032 
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(1)    The “Other Services” category includes the accounts of SJW Land Co, Chester Reality, Inc., SJWC’s Cupertino service concession arrangement operations, TWOS, TWR, and NEWUS, on a stand-alone basis.
(2)    The “Unallocated Corporate” category includes the accounts of H2O America, SJWNE LLC, SJWTX Holdings, Inc., CTWS, NWU on a stand-alone basis.
(3)    Primarily comprised of pension non-service credit (cost) and items of miscellaneous non-operating income (expense).

H2O America’s assets for the Water Utility Services reportable segment and all other are as follows as of:
September 30, 2025December 31, 2024
Water Utility Services (reportable segment)$4,930,531 4,567,182 
Other Services23,209 25,053 
Unallocated Corporate56,914 66,074 
Total assets$5,010,654 4,658,309