| Schedule of Long-term Debt Instruments |
Long-term debt as of December 31 was as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Description | Rate | | Maturity | | 2025 | | 2024 | | | | | | | | | H2O America Senior notes (a) | 2.47% - 3.53% | | 2029 - 2039 | | $ | 560,000 | | | 560,000 | | | SJWC: | | | | | | | | | Senior notes (a) | 3.00% - 7.20% | | 2026 - 2055 | | 560,000 | | | 505,000 | | | California Pollution Control Financing Authority Revenue Bond | 4.75% | | 2046 | | 70,000 | | | 70,000 | | | Total SJWC | | | | | 630,000 | | | 575,000 | | | CTWS bank term loans | 4.09%, 4.15% | | 2027, 2037 | | 12,212 | | | 14,389 | | | CWC: | | | | | | | | | Connecticut Innovations Revenue Bonds, variable rate | | | 2028 - 2029 | | 22,050 | | | 22,050 | | | Senior notes (a) | 3.07% - 6.46% | | 2037 - 2055 | | 330,000 | | | 270,000 | | | State revolving fund loans | 2.00% | | 2044 | | 308 | | | 327 | | | Bank term loans | 4.04% - 4.75% | | 2028 - 2036 | | 96,295 | | | 96,295 | | | Total CWC | | | | | 448,653 | | | 388,672 | | | TWC: | | | | | | | | | Senior note (a) | 6.27% | | 2036 | | 15,000 | | | 15,000 | | | Bank term loans | 4.01% - 6.68% | | 2041 - 2055 | | 105,000 | | | 65,000 | | | Seller financing debt | (b) | | 2053 | | 29,000 | | | 29,000 | | | Total TWC | | | | | 149,000 | | | 109,000 | | | | | | | | | | | MWC: | | | | | | | | | State revolving fund loans | 0.00% - 2.23% | | 2026 - 2054 | | 16,336 | | | 12,763 | | | Bank term loans | 3.89% - 6.47% | | 2026 - 2055 | | 85,000 | | | 60,000 | | | Total MWC | | | | | 101,336 | | | 72,763 | | | Total debt | | | | | 1,901,201 | | | 1,719,824 | | Unamortized debt premium and discount, net | | | | | (1,644) | | | (56) | | | | | | | | | | | Unamortized debt issuance costs | | | | | (9,234) | | | (9,216) | | | Current portion | | | | | (23,504) | | | (3,648) | | | Total long-term debt, less current portion | | | | | $ | 1,866,819 | | | 1,706,904 | |
___________________________________ (a)Senior notes held by institutional investors are unsecured obligations of H2O America, SJWC, CWC, TWC and MWC and require interest-only payments until maturity. To minimize issuance costs, the companies’ debt has primarily been placed privately. (b)Debt does not contain a stated interest rate but is discounted using an effective rate of 5.61%.
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| Schedule of Maturities of Long-term Debt |
The following is a table of the consolidated company’s schedule of principal payments: | | | | | | | Year | | | 2026 | $ | 23,950 | | | 2027 | 3,207 | | | 2028 | 44,699 | | | 2029 | 325,624 | | | 2030 | 53,201 | | | Thereafter | 1,450,520 | |
The following is a table of the H2O America’s schedule of principal payments on long-term debt: | | | | | | | Year | | | 2026 | $ | — | | | 2027 | — | | | 2028 | — | | | 2029 | 310,000 | | | 2030 | 50,000 | | | Thereafter | 200,000 | |
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