$WTRG

AQUA AMERICA INC

CIK:0000078128|SEC Filings

Condensed Consolidated Statements Of Operations And Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Condensed Consolidated Statements Of Operations And Comprehensive Income [Abstract]
Operating revenues	$ 530,854	$ 514,907	$ 1,392,613	$ 1,298,533
Operating expenses:
Operations and maintenance	153,635	148,510	329,430	286,334
Purchased gas	46,201	56,735	284,816	241,376
Depreciation	109,578	99,542	216,687	196,306
Amortization	3,714	3,977	7,334	6,590
Taxes other than income taxes	24,453	20,872	50,433	43,751
Total operating expenses	337,581	329,636	888,700	774,357
Operating income	193,273	185,271	503,913	524,176
Other expense (income):
Interest expense	89,111	79,809	176,418	161,874
Interest income	(510)	(301)	(2,121)	(530)
Allowance for funds used during construction	(5,739)	(7,027)	(11,499)	(12,859)
Other, net	1,295	391	1,220	98
Income before income taxes	109,116	112,399	339,895	375,593
Income tax expense (benefit)	3,391	4,572	9,778	(16,023)
Net income	105,725	107,827	330,117	391,616
Comprehensive income	$ 105,725	$ 107,827	$ 330,117	$ 391,616
Net income per common share:
Basic	$ 0.37	$ 0.38	$ 1.16	$ 1.41
Diluted	$ 0.37	$ 0.38	$ 1.16	$ 1.41
Average common shares outstanding during the period:
Basic	283,655,000	280,275,000	283,419,000	277,748,000
Diluted	284,088,000	280,725,000	283,998,000	278,335,000

Condensed Consolidated Statements Of Cash Flow - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income	$ 330,117	$ 391,616
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization	224,021	202,896
Deferred income taxes	5,048	(16,704)
Provision for doubtful accounts	9,300	8,620
Stock-based compensation	7,214	6,909
Gain on sale of utility system and other assets	(939)	(493)
Net change in receivables, deferred purchased gas costs, inventory and prepayments	81,141	35,915
Net change in payables, accrued interest, accrued taxes and other accrued liabilities	(65,378)	(44,062)
Other, net	(1,544)	(12,863)
Net cash flows from operating activities	588,980	571,834
Cash flows from investing activities:
Property, plant and equipment additions, including the debt component of allowance for funds used during construction of $3,597 and $4,145	(662,167)	(612,629)
Acquisitions of utility systems, net	(23,157)	(20,536)
Proceeds from the sale of utility systems and other assets	983	537
Convertible note investment	20,000
Other, net	(1,623)	(201)
Net cash flows used in investing activities	(665,964)	(632,829)
Cash flows from financing activities:
Customers' advances and contributions in aid of construction	17,530	10,154
Repayments of customers' advances	(1,964)	(2,192)
Net repayments of short-term debt	(109,139)	(168,502)
Net repayments (proceeds) from commercial paper program	(183,277)	567,400
Proceeds from other long-term debt	521,520	985,725
Repayments of other long-term debt	(6,972)	(1,307,301)
Change in cash overdraft position	(10,595)	(42,261)
Proceeds from issuance of common stock under dividend reinvestment plan	7,519	7,569
Proceeds from issuance of common stock from at-the-market sale agreement	12,539	208,576
Proceeds from exercised stock options	767	417
Repurchase of common stock	(2,945)	(2,237)
Dividends paid on common stock	(194,169)	(180,713)
Other, net	26	275
Net cash flows from financing activities	50,840	76,910
Net change in cash and cash equivalents	(26,144)	15,915
Cash and cash equivalents at beginning of period	34,778	9,156
Cash and cash equivalents at end of period	8,634	25,071
Non-cash investing activities:
Property, plant and equipment additions purchased at the period end, but not yet paid for	148,519	123,154
Non-cash utility property contributions	$ 9,741	$ 9,122

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Assets
Property, plant and equipment, at cost	$ 18,362,682	$ 17,690,717
Less: accumulated depreciation	3,616,425	3,427,035
Net property, plant and equipment	14,746,257	14,263,682
Current assets:
Cash and cash equivalents	8,634	34,778
Accounts receivable, net	207,802	217,191
Unbilled revenues	97,741	167,085
Inventory - materials and supplies	55,838	51,767
Inventory - gas stored	39,875	60,686
Prepayments and other current assets	33,504	59,110
Regulatory assets	21,915	19,779
Total current assets	465,309	610,396
Regulatory assets	2,226,549	2,089,669
Deferred charges and other assets, net	126,931	122,217
Funds restricted for construction activity	1,456	1,445
Goodwill	2,349,025	2,348,559
Operating lease right-of-use assets	23,667	25,923
Intangible assets	2,793	2,954
Total assets	19,941,987	19,464,845
Stockholders' equity:
Common stock at $0.50 par value, authorized 600,000,000 shares, issued 287,261,673 and 286,505,895 as of June 30, 2026 and December 31, 2025	143,631	143,253
Capital in excess of par value	4,551,801	4,524,517
Retained earnings	2,416,322	2,280,669
Treasury stock, at cost, 3,488,132 and 3,423,086 shares as of June 30, 2026 and December 31, 2025	(93,498)	(90,983)
Total stockholders' equity	7,018,256	6,857,456
Long-term debt, excluding current portion	8,473,855	8,160,026
Less: debt issuance costs and unamortized discount on debt	52,657	49,859
Long-term debt, excluding current portion, net of debt issuance costs and unamortized discount on debt	8,421,198	8,110,167
Commitments and contingencies (See Note 15)
Current liabilities:
Current portion of long-term debt	42,312	21,822
Loans payable	41,000	150,139
Accounts payable	198,930	276,080
Book overdraft	14,899	25,494
Accrued interest	89,699	82,466
Accrued taxes	27,048	28,688
Regulatory liabilities	16,486	11,202
Other accrued liabilities	168,615	168,592
Total current liabilities	598,989	764,483
Deferred credits and other liabilities:
Deferred income taxes and investment tax credits	2,241,349	2,090,120
Customers' advances for construction	118,410	115,465
Regulatory liabilities	709,394	703,285
Operating lease liabilities	18,743	21,608
Pension and other postretirement benefit liabilities	14,900	15,241
Other	71,631	60,814
Total deferred credits and other liabilities	3,174,427	3,006,533
Contributions in aid of construction	729,117	726,206
Total liabilities and equity	$ 19,941,987	$ 19,464,845