AMERICAN STATES WATER CO
For the period ended Sep 30, 2024. Filed Nov 6, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 6, 2024
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
| ☒ | Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 |
|---|
for the quarterly period ended September 30, 2024
or
| ☐ | Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 |
|---|
for the transition period from to
Commission file number 001-14431
American States Water Company
(Exact Name of Registrant as Specified in Its Charter)
| California | 95-4676679 | ||
|---|---|---|---|
| (State or Other Jurisdiction of Incorporation or Organization) | (IRS Employer Identification No.) | ||
| 630 E. Foothill Blvd | San Dimas | CA | 91773-1212 |
| (Address of Principal Executive Offices) | (Zip Code) |
(909)394-3600
(Registrant’s Telephone Number, Including Area Code)
Not Applicable
(Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report)
Commission file number 001-12008
Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:
| Title of each class | Trading symbol | Name of each exchange on which registered |
|---|---|---|
| Common shares | AWR | New York Stock Exchange |
Golden State Water Company
(Exact Name of Registrant as Specified in Its Charter)
| California | 95-1243678 | ||
|---|---|---|---|
| (State or Other Jurisdiction of Incorporation or Organization) | (IRS Employer Identification No.) | ||
| 630 E. Foothill Blvd | San Dimas | CA | 91773-1212 |
| (Address of Principal Executive Offices) | (Zip Code) |
(909)394-3600
(Registrant’s Telephone Number, Including Area Code)
Not Applicable
(Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report)
Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:
| Title of each class | Trading symbol | Name of each exchange on which registered |
|---|---|---|
| N/A | N/A | N/A |
Indicate by check mark whether Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
| American States Water Company | Yes | x | No | ¨ |
|---|---|---|---|---|
| Golden State Water Company | Yes | x | No | ¨ |
Indicate by check mark whether Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or such shorter period that the Registrant was required to submit such files).
| American States Water Company | Yes | x | No | ¨ |
|---|---|---|---|---|
| Golden State Water Company | Yes | x | No | ¨ |
Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one):
American States Water Company
| Large accelerated filer | x | Accelerated filer | ¨ | Non-accelerated filer | ¨ | Smaller reporting company | ☐ | Emerging growth company | ☐ |
|---|
Golden State Water Company
| Large accelerated filer | ¨ | Accelerated filer | ¨ | Non-accelerated filer | x | Smaller reporting company | ☐ | Emerging growth company | ☐ |
|---|
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.¨
Indicate by check mark whether Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act)
| American States Water Company | Yes | ☐ | No | x |
|---|---|---|---|---|
| Golden State Water Company | Yes | ☐ | No | x |
As of November 5, 2024, the number of common shares, no par value (“Common Shares”) outstanding of American States Water Company was 37,796,873. As of November 5, 2024, all of the 171 outstanding shares of common stock, no par value, of Golden State Water Company were owned by American States Water Company.
Golden State Water Company meets the conditions set forth in General Instruction (H)(1)(a) and (b) of Form 10-Q and is therefore filing this Form, in part, with the reduced disclosure format for Golden State Water Company.
and
FORM 10-Q
INDEX
| Glossary of Terms | ||
|---|---|---|
| Information Regarding Forward-Looking Statements | ||
| Part I | Financial Information | 3 |
| Item 1: | Financial Statements | 1 |
| Consolidated Balance Sheets of American States Water Company as of September 30, 2024 and December 31, 2023 | 2 | |
| Consolidated Statements of Income of American States Water Company for the Three and Nine Months Ended September 30, 2024 and 2023 | 4 | |
| Consolidated Statements of Changes in Common Shareholders' Equity for the Nine Months Ended September 30, 2024 | 5 | |
| Consolidated Statements of Changes in Common Shareholders' Equity for the Nine Months Ended September 30, 2023 | 6 | |
| Consolidated Statements of Cash Flows of American States Water Company for the Nine Months Ended September 30, 2024 and 2023 | 7 | |
| Balance Sheets of Golden State Water Company as of September 30, 2024 and December 31, 2023 | 8 | |
| Statements of Income of Golden State Water Company for the Three and Nine Months Ended September 30, 2024 and 2023 | 10 | |
| Statements of Changes in Common Shareholder's Equity for the Nine Months Ended September 30, 2024 | 11 | |
| Statements of Changes in Common Shareholder's Equity for the Nine Months Ended September 30, 2023 | 13 | |
| Statements of Cash Flows of Golden State Water Company for the Nine Months Ended September 30, 2024 and 2023 | 13 | |
| Notes to Consolidated Financial Statements | 14 | |
| Item 2: | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 26 |
| Item 3: | Quantitative and Qualitative Disclosures About Market Risk | 57 |
| Item 4: | Controls and Procedures | 57 |
| Part II | Other Information | |
| Item 1: | Legal Proceedings | 58 |
| Item 1A: | Risk Factors | 58 |
| Item 2: | Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities | 58 |
| Item 3: | Defaults Upon Senior Securities | 58 |
| Item 4: | Mine Safety Disclosure | 58 |
| Item 5: | Other Information | 59 |
| Item 6: | Exhibits | 60 |
| Signatures | 62 | |
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