Essential Utilities, Inc.

For the period ended Dec 31, 2025. Filed Feb 26, 2026.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 26, 2026

WTRG$45.17+0.2%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Cash Flows – 2025, 2024, and 2023

Notes to Consolidated Statements of Cash Flows

	Years ended December 31,
	2025	2024	2023
Cash flows from operating activities:
Net income	$616,369	$595,314	$498,226
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization	417,471	369,552	343,695
Deferred income taxes	(3,178)	(27,756)	(79,845)
Provision for doubtful accounts	22,227	21,865	23,209
Stock-based compensation	12,855	9,785	11,323
Gain on sale of utility system and other assets	(1,325)	(92,224)	(65)
Net change in receivables, deferred purchased gas costs, inventory and prepayments	(85,432)	(103,335)	189,989
Net change in payables, accrued interest, accrued taxes and other accrued liabilities	14,299	26,963	(14,559)
Pension and other postretirement benefits contributions	(3,945)	(9,394)	(20,343)
Other, net	21,118	(20,427)	(18,043)
Net cash flows from operating activities	1,010,459	770,343	933,587
Cash flows from investing activities:
Property, plant and equipment additions, including the debt component of allowance for funds used during construction of $7,975, $7,372 and $5,241	(1,429,980)	(1,329,747)	(1,199,103)
Acquisitions of utility systems, net	(57,004)	(665)	(45,303)
Proceeds from the sale of utility systems and other assets	1,548	167,470	41,758
Convertible note investment	(25,125)	-	-
Other, net	(183)	(339)	(19,080)
Net cash flows used in investing activities	(1,510,744)	(1,163,281)	(1,221,728)
Cash flows from financing activities:
Customers' advances and contributions in aid of construction	28,255	19,563	23,982
Repayments of customers' advances	(8,073)	(8,564)	(8,471)
Net proceeds (repayments) of short-term debt	(36,403)	26,418	(68,377)
Net proceeds from commercial paper program	567,448	-	-
Proceeds from other long-term debt	1,318,887	1,649,546	1,207,619
Repayments of other long-term debt	(1,262,822)	(1,027,473)	(876,379)
Change in cash overdraft position	(22,220)	34,356	(15,336)
Proceeds from issuance of common stock under dividend reinvestment plan	15,301	15,476	16,005
Proceeds from issuance of common stock from at-the-market sale agreement	300,117	36,134	322,983
Proceeds from exercised stock options	956	2,471	287
Repurchase of common stock	(2,284)	(4,048)	(3,981)
Dividends paid on common stock	(373,821)	(346,392)	(316,806)
Other, net	566	(5)	(171)
Net cash flows from financing activities	525,907	397,482	281,355
Net change in cash and cash equivalents	25,622	4,544	(6,786)
Cash and cash equivalents at beginning of year	9,156	4,612	11,398
Cash and cash equivalents at end of year	$34,778	$9,156	$4,612
Cash paid during the year for:
Interest, net of amounts capitalized	$310,921	$275,898	$272,532
Income taxes	$9,080	$6,698	$7,839
Non-cash investing activities:
Property, plant and equipment additions purchased at the period end, but not yet paid for	$144,987	$135,331	$102,770
Non-cash utility property contributions	$34,349	$38,840	$56,297
See accompanying notes to consolidated financial statements.

Refer to Note 15 –Employee Stock and Incentive Plan for a description of non-cash activities

Refer to Note 20 –Other Supplemental Cash Flow Informationfor details on cash paid for income taxes

Notes to Consolidated Financial Statements

Note 1 –Summary of Significant Accounting Policies

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.