Essential Utilities Inc
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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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.
FY2024 · Filed Feb 27, 2025
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, | ||
|---|---|---|
| 2024 | 2023 | |
| Assets | ||
| Property, plant and equipment, at cost | $16,275,377 | $14,977,021 |
| Less: accumulated depreciation | 3,131,901 | 2,879,949 |
| Net property, plant and equipment | 13,143,476 | 12,097,072 |
| Current assets: | ||
| Cash and cash equivalents | 9,156 | 4,612 |
| Accounts receivable, net | 166,522 | 144,300 |
| Unbilled revenues | 142,310 | 101,436 |
| Inventory - materials and supplies | 48,619 | 47,494 |
| Inventory - gas stored | 45,311 | 65,173 |
| Prepayments and other current assets | 41,139 | 99,884 |
| Regulatory assets | 32,854 | 29,080 |
| Total current assets | 485,911 | 491,979 |
| Regulatory assets | 1,907,786 | 1,766,892 |
| Deferred charges and other assets, net | 112,712 | 102,388 |
| Funds restricted for construction activity | 1,420 | 1,381 |
| Goodwill | 2,340,713 | 2,340,738 |
| Operating lease right-of-use assets | 31,263 | 37,416 |
| Intangible assets | 3,273 | 3,593 |
| Total assets | $18,026,554 | $16,841,459 |
| See accompanying notes to consolidated financial statements. | ||
| December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Liabilities and Equity | ||
| Essential Utilities stockholders' equity: | ||
| Common stock at $0.50 par value, authorized 600,000,000 shares, issued 278,209,660 and 276,595,228 as of December 31, 2024 and December 31, 2023 | $139,105 | $138,297 |
| Capital in excess of par value | 4,199,836 | 4,137,696 |
| Retained earnings | 1,949,492 | 1,706,675 |
| Treasury stock, at cost, 3,386,069 and 3,299,191 shares as of December 31, 2024 and December 31, 2023 | (89,624) | (86,485) |
| Total stockholders' equity | 6,198,809 | 5,896,183 |
| Long-term debt, excluding current portion | 7,416,289 | 6,870,593 |
| Less: debt issuance costs | 47,908 | 44,508 |
| Long-term debt, excluding current portion, net of debt issuance costs | 7,368,381 | 6,826,085 |
| Commitments and contingencies (See Note 9) | ||
| Current liabilities: | ||
| Current portion of long-term debt | 142,807 | 67,415 |
| Loans payable | 186,542 | 160,123 |
| Accounts payable | 258,615 | 221,191 |
| Book overdraft | 47,714 | 13,358 |
| Accrued interest | 72,281 | 53,084 |
| Accrued taxes | 38,219 | 40,641 |
| Regulatory liabilities | 1,770 | 31,270 |
| Dividends payable | 89,441 | 83,929 |
| Other accrued liabilities | 137,279 | 126,916 |
| Total current liabilities | 974,668 | 797,927 |
| Deferred credits and other liabilities: | ||
| Deferred income taxes and investment tax credits | 1,831,868 | 1,628,324 |
| Customers' advances for construction | 113,323 | 128,755 |
| Regulatory liabilities | 764,745 | 820,910 |
| Asset retirement obligations | 860 | 848 |
| Operating lease liabilities | 27,447 | 34,425 |
| Pension and other postretirement benefit liabilities | 33,680 | 38,850 |
| Other | 23,928 | 24,086 |
| Total deferred credits and other liabilities | 2,795,851 | 2,676,198 |
| Contributions in aid of construction | 688,845 | 645,066 |
| Total liabilities and equity | $18,026,554 | $16,841,459 |
| See accompanying notes to consolidated financial statements. | ||
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