Essential Utilities Inc
For the period ended Dec 31, 2023. Filed Feb 29, 2024.
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FY2023 · Filed Feb 29, 2024
WTRG$45.17+0.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Report of Independent Registered Public Accounting Firm
| December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Assets | ||
| Property, plant and equipment, at cost | $14,977,021 | $13,737,387 |
| Less: accumulated depreciation | 2,879,949 | 2,606,441 |
| Net property, plant and equipment | 12,097,072 | 11,130,946 |
| Current assets: | ||
| Cash and cash equivalents | 4,612 | 11,398 |
| Accounts receivable, net | 144,300 | 206,324 |
| Unbilled revenues | 101,436 | 170,504 |
| Inventory - materials and supplies | 47,494 | 46,592 |
| Inventory - gas stored | 65,173 | 153,143 |
| Current assets held for sale | - | 11,167 |
| Prepayments and other current assets | 99,884 | 39,759 |
| Regulatory assets | 29,080 | 19,272 |
| Total current assets | 491,979 | 658,159 |
| Regulatory assets | 1,766,892 | 1,342,753 |
| Deferred charges and other assets, net | 102,388 | 166,653 |
| Funds restricted for construction activity | 1,381 | 1,342 |
| Goodwill | 2,340,738 | 2,340,792 |
| Non-current assets held for sale | - | 32,124 |
| Operating lease right-of-use assets | 37,416 | 41,734 |
| Intangible assets | 3,593 | 4,604 |
| Total assets | $16,841,459 | $15,719,107 |
| See accompanying notes to consolidated financial statements. | ||
| December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Liabilities and Equity | ||
| Essential Utilities stockholders' equity: | ||
| Common stock at $0.50 par value, authorized 600,000,000 shares, issued 276,595,228 and 266,973,321 as of December 31, 2023 and December 31, 2022 | $138,297 | $133,486 |
| Capital in excess of par value | 4,137,696 | 3,793,262 |
| Retained earnings | 1,706,675 | 1,534,331 |
| Treasury stock, at cost, 3,299,191 and 3,236,237 shares as of December 31, 2023 and December 31, 2022 | (86,485) | (83,693) |
| Total stockholders' equity | 5,896,183 | 5,377,386 |
| Long-term debt, excluding current portion | 6,870,593 | 6,418,039 |
| Less: debt issuance costs | 44,508 | 46,982 |
| Long-term debt, excluding current portion, net of debt issuance costs | 6,826,085 | 6,371,057 |
| Commitments and contingencies (See Note 9) | ||
| Current liabilities: | ||
| Current portion of long-term debt | 67,415 | 199,356 |
| Loans payable | 160,123 | 228,500 |
| Accounts payable | 221,191 | 238,843 |
| Book overdraft | 13,358 | 28,694 |
| Accrued interest | 53,084 | 47,063 |
| Accrued taxes | 40,641 | 34,393 |
| Liabilities related to assets held for sale | - | 3,263 |
| Regulatory liabilities | 31,270 | 35,276 |
| Dividends payable | 83,929 | 75,808 |
| Other accrued liabilities | 126,916 | 130,673 |
| Total current liabilities | 797,927 | 1,021,869 |
| Deferred credits and other liabilities: | ||
| Deferred income taxes and investment tax credits | 1,628,324 | 1,345,766 |
| Customers' advances for construction | 128,755 | 114,732 |
| Regulatory liabilities | 820,910 | 778,754 |
| Asset retirement obligations | 848 | 843 |
| Operating lease liabilities | 34,425 | 37,666 |
| Non-current liabilities related to assets held for sale | - | 974 |
| Pension and other postretirement benefit liabilities | 38,850 | 31,244 |
| Other | 24,086 | 28,562 |
| Total deferred credits and other liabilities | 2,676,198 | 2,338,541 |
| Contributions in aid of construction | 645,066 | 610,254 |
| Total liabilities and equity | $16,841,459 | $15,719,107 |
| See accompanying notes to consolidated financial statements. | ||
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