Income Statement

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Year Ending Dec 2025 (Update) Year Ending Dec 2024 (Update) Year Ending Dec 2023 (Update) Year Ending Dec 2022 (Update)
Water Operations 194.69 191.88 166.27 162.43
Revenue 194.69 191.88 166.27 162.43
Total Revenue 194.69 191.88 166.27 162.43
Operations & Maintenance 91.29 92.36 83.11 79.10
Depreciation 27.11 24.43 25.19 23.03
Depreciation/Amortization 27.11 24.43 25.19 23.03
Other Unusual Expense (Income) 0.00 -5.23
Unusual Expense (Income) 0.00 -5.23
Property & Other Taxes 21.91 21.87 18.74 18.21
Other Operating Expenses, Total 21.91 21.87 18.74 18.21
Total Operating Expense 140.32 138.67 127.05 115.10
Operating Income 54.38 53.21 39.22 47.33
Interest Expense - Non-Operating -14.30 -14.02 -13.14 -9.37
Interest Expense, Net Non-Operating -14.30 -14.02 -13.14 -9.37
Interest Income (Expense), Net-Non-Operating, Total -14.30 -14.02 -13.14 -9.37
Allowance for Funds Used During Construction 1.62 1.25 2.43 2.31
Other Non-Operating Income (Expense) 5.94 10.82 4.05 5.39
Other, Net 5.94 10.82 4.05 5.39
Net Income Before Taxes 47.64 51.26 32.57 45.67
Income Tax – Total 4.82 6.91 1.04 3.24
Income After Tax 42.82 44.35 31.52 42.43
Net Income Before Extraordinary Items 42.82 44.35 31.52 42.43
Extraordinary Item
Total Extraordinary Items
Net Income 42.82 44.35 31.52 42.43
Preferred Dividends -0.08 -0.11 -0.12 -0.12
Total Adjustments to Net Income -0.08 -0.11 -0.12 -0.12
Income Available to Common Excluding Extraordinary Items 42.75 44.24 31.40 42.31
Income Available to Common Stocks Including Extraordinary Items 42.75 44.24 31.40 42.31
Basic Weighted Average Shares 18.10 17.84 17.73 17.60
Basic EPS Excluding Extraordinary Items 2.36 2.48 1.77 2.40
Basic EPS Including Extraordinary Items 2.36 2.48 1.77 2.40
Dilution Adjustment 0.02 0.05 0.07 0.07
Diluted Net Income 42.77 44.29 31.47 42.38
Diluted Weighted Average Shares 18.14 17.95 17.85 17.71
Diluted EPS Excluding Extraordinary Items 2.36 2.47 1.76 2.39
Diluted EPS Including Extraordinary Items 2.36 2.47 1.76 2.39
DPS - Common Stock Primary Issue 1.38 1.32 1.26 1.18
Gross Dividends - Common Stock 24.92 23.41 22.44 20.81
Total Special Items 0.00 -5.23
Normalized Income Before Taxes 47.64 51.26 32.57 40.44
Effect of Special Items on Income Taxes 0.00 -0.37
Income Taxes Excluding Impact of Special Items 4.82 6.91 1.04 2.87
Normalized Income After Taxes 42.82 44.35 31.52 37.57
Normalized Income Available to Common 42.75 44.24 31.40 37.45
Basic Normalized EPS 2.36 2.48 1.77 2.13
Diluted Normalized EPS 2.36 2.47 1.76 2.12
Depreciation, Supplemental 32.50 28.04 29.44 27.48
Interest Expense, Supplemental 14.30 14.02 13.14 9.37
Rental Expense, Supplemental 0.80 0.80 0.80 0.80
Stock-Based Compensation, Supplemental 1.24 1.54 2.21 1.63
Audit-Related Fees, Supplemental 0.69 0.58 0.48
Audit-Related Fees
Tax Fees, Supplemental 0.07 0.04 0.03
All Other Fees Paid to Auditor, Supplemental
Operating Margin 27.93 27.73 23.59 29.14
Pretax Margin 24.47 26.71 19.59 28.12
Effective Tax Rate 10.12 13.47 3.20 7.09
Net Profit Margin 21.96 23.06 18.89 26.05
Normalized EBIT 54.38 53.21 39.22 42.10
Normalized EBITDA 86.87 81.25 68.67 69.58
Current Tax - Domestic 2.97 1.55 2.95 0.43
Current Tax - Local 1.29 1.13 1.07 1.38
Current Tax - Total 4.26 2.68 4.02 1.81
Deferred Tax - Domestic 0.30 3.80 -3.26 1.24
Deferred Tax - Local 0.32 0.48 0.35 0.26
Deferred Tax - Total 0.61 4.28 -2.91 1.50
Other Tax -0.05 -0.06 -0.06 -0.07
Income Tax - Total 4.82 6.91 1.04 3.24
Interest Cost - Domestic 4.64 4.28 4.27 3.04
Service Cost - Domestic 0.97 1.27 1.55 2.36
Expected Return on Assets - Domestic -6.75 -6.32 -5.87 -7.04
Actuarial Gains and Losses - Domestic 0.05 0.15 0.66 1.67
Domestic Pension Plan Expense -1.10 -0.62 0.61 0.04
Interest Cost - Post-Retirement 1.72 1.31 1.61 1.33
Service Cost - Post-Retirement 0.34 0.32 0.39 0.80
Prior Service Cost - Post-Retirement
Expected Return on Assets - Post-Retirement -3.71 -3.38 -3.08 -3.55
Actuarial Gains and Losses - Post-Retirement -0.61 -1.10 -0.19 0.00
Post-Retirement Plan Expense -2.27 -2.85 -1.27 -1.42
Defined Contribution Expense - Domestic
Total Pension Expense -3.36 -3.47 -0.66 -1.39
Discount Rate - Domestic 5.47 4.79 4.98 2.72
Expected Rate of Return - Domestic 7.00 7.00 7.00 7.00
Compensation Rate - Domestic 3.00 3.00 3.00 3.00
Total Plan Interest Cost 6.35 5.59 5.88 4.37
Total Plan Service Cost 1.31 1.59 1.94 3.16
Total Plan Expected Return -10.46 -9.71 -8.95 -10.59

“Update” reflects most recent financial period displayed

In millions of USD (except for per share items)

Source: LSEG