0000766829-24-000023 | 10-K | XBRL Viewer

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Equity Plans - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Equity Plans - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Apr. 26, 2023
Option Indexed to Issuer's Equity [Line Items]
Fair value of restricted stock awards	$ 4,170	$ 4,369	$ 3,332
Performance-based and market-based restricted stock awards issued (in shares)	15,955	11,551	7,327
Performance-based and market-based restricted stock awards vested (in shares)	24,726
Performance-based and market-based restricted stock awards outstanding (in shares)	61,763
Employee stock purchase plan (in shares)	34,122	36,585	35,304
Restricted stock and deferred restricted stock
Option Indexed to Issuer's Equity [Line Items]
Share-based payment arrangement, nonvested award, cost not yet recognized, amount	$ 4,587
Period for recognition of compensation cost	1 year 8 months 1 day
Performance Shares \| Minimum
Option Indexed to Issuer's Equity [Line Items]
Range of shares issuable	0.00%
Performance Shares \| Maximum
Option Indexed to Issuer's Equity [Line Items]
Range of shares issuable	150.00%
Market-based RSU \| Minimum
Option Indexed to Issuer's Equity [Line Items]
Range of shares issuable	0.00%
Market-based RSU \| Maximum
Option Indexed to Issuer's Equity [Line Items]
Range of shares issuable	200.00%
Incentive Plan
Option Indexed to Issuer's Equity [Line Items]
Remaining shares available for issuance (in shares)				1,142,000
Incentive Plan \| Restricted stock and deferred restricted stock
Option Indexed to Issuer's Equity [Line Items]
Remaining shares available for issuance (in shares)	1,136,979
Incentive Plan \| Common Stock
Option Indexed to Issuer's Equity [Line Items]
Maximum number of shares per employee (in shares)	600,000
Shares issued pursuant to the plan (in shares)	1,080,759	1,013,782	946,086
Shares issuable under the plan upon exercise of outstanding awards (in shares)	150,704	162,502	168,721
Employee Stock Purchase Plan
Option Indexed to Issuer's Equity [Line Items]
Share-based payment arrangement, nonvested award, cost not yet recognized, amount	$ 27
Purchase price of common stock to employees under the plan, percent	85.00%
Maximum percent of base salary employees can designate for share purchase under the plan	10.00%
Expenses recorded under the plan	$ 380	$ 377	$ 361
Employee Stock Purchase Plan \| Common Stock
Option Indexed to Issuer's Equity [Line Items]
Remaining shares available for issuance (in shares)	500,000
Number of shares reserved for issuance under the plan (in shares)	500,000

Long-Term Debt - Schedule of Long-term Debt Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Total debt	$ 1,583,441	$ 1,488,788
Unamortized debt premium and discount, net	1,583	17,396
Unamortized debt issuance costs	(9,350)	(9,859)
Current portion	(48,975)	(4,360)
Total long-term debt, less current portion	1,526,699	1,491,965
SJW Group
Debt Instrument [Line Items]
Total long-term debt, less current portion	557,028	556,627
SJW Group \| Senior notes
Debt Instrument [Line Items]
Total debt	$ 560,000	560,000
SJW Group \| Senior notes \| Minimum
Debt Instrument [Line Items]
Rate	2.47%
SJW Group \| Senior notes \| Maximum
Debt Instrument [Line Items]
Rate	3.53%
SJWC \| California Pollution Control Financing Authority Revenue Bond
Debt Instrument [Line Items]
Total debt	$ 540,000	470,000
SJWC \| Senior notes
Debt Instrument [Line Items]
Total debt	$ 470,000	400,000
SJWC \| Senior notes \| Minimum
Debt Instrument [Line Items]
Rate	3.00%
SJWC \| Senior notes \| Maximum
Debt Instrument [Line Items]
Rate	7.37%
SJWC \| Public utility, bonds \| California Pollution Control Financing Authority Revenue Bond
Debt Instrument [Line Items]
Total debt	$ 70,000	70,000
SJWC \| Public utility, bonds \| California Pollution Control Financing Authority Revenue Bond \| Minimum
Debt Instrument [Line Items]
Rate	4.75%
SJWC \| Public utility, bonds \| California Pollution Control Financing Authority Revenue Bond \| Maximum
Debt Instrument [Line Items]
Rate	4.75%
CTWS \| Bank term loans
Debt Instrument [Line Items]
Total debt	$ 16,457	18,444
CTWS \| Bank term loans \| Minimum
Debt Instrument [Line Items]
Rate	4.09%
CTWS \| Bank term loans \| Maximum
Debt Instrument [Line Items]
Rate	4.15%
Connecticut Water Company
Debt Instrument [Line Items]
Total debt	$ 313,345	313,345
Connecticut Water Company \| Senior notes
Debt Instrument [Line Items]
Total debt	$ 195,000	195,000
Connecticut Water Company \| Senior notes \| Minimum
Debt Instrument [Line Items]
Rate	3.07%
Connecticut Water Company \| Senior notes \| Maximum
Debt Instrument [Line Items]
Rate	4.71%
Connecticut Water Company \| Public utility, bonds \| Connecticut Innovations Revenue Bonds, variable rate
Debt Instrument [Line Items]
Total debt	$ 22,050	22,050
Connecticut Water Company \| Bank term loans
Debt Instrument [Line Items]
Total debt	$ 96,295	96,295
Connecticut Water Company \| Bank term loans \| Minimum
Debt Instrument [Line Items]
Rate	4.04%
Connecticut Water Company \| Bank term loans \| Maximum
Debt Instrument [Line Items]
Rate	4.75%
SJWTX
Debt Instrument [Line Items]
Total debt	$ 60,000	60,000
SJWTX \| Senior notes
Debt Instrument [Line Items]
Total debt	$ 15,000	15,000
SJWTX \| Senior notes \| Minimum
Debt Instrument [Line Items]
Rate	6.27%
SJWTX \| Senior notes \| Maximum
Debt Instrument [Line Items]
Rate	6.27%
SJWTX \| Bank term loans
Debt Instrument [Line Items]
Total debt	$ 45,000	45,000
SJWTX \| Bank term loans \| Minimum
Debt Instrument [Line Items]
Rate	4.01%
SJWTX \| Bank term loans \| Maximum
Debt Instrument [Line Items]
Rate	5.54%
TWR \| TWR seller financing debt
Debt Instrument [Line Items]
Total debt	$ 29,000	0
TWR \| TWR seller financing debt \| Minimum
Debt Instrument [Line Items]
Rate	5.61%
TWR \| TWR seller financing debt \| Maximum
Debt Instrument [Line Items]
Rate	5.61%
Maine Water Company
Debt Instrument [Line Items]
Total debt	$ 64,639	66,999
Maine Water Company \| Public utility, bonds \| Other First Mortgage Bond
Debt Instrument [Line Items]
Total debt	$ 900	1,800
Maine Water Company \| Public utility, bonds \| Other First Mortgage Bond \| Minimum
Debt Instrument [Line Items]
Rate	8.95%
Maine Water Company \| Public utility, bonds \| Other First Mortgage Bond \| Maximum
Debt Instrument [Line Items]
Rate	8.95%
Maine Water Company \| Bank term loans
Debt Instrument [Line Items]
Total debt	$ 49,500	49,500
Maine Water Company \| Bank term loans \| Minimum
Debt Instrument [Line Items]
Rate	3.89%
Maine Water Company \| Bank term loans \| Maximum
Debt Instrument [Line Items]
Rate	5.51%
Maine Water Company \| Revolving Fund Loan \| State revolving fund loans
Debt Instrument [Line Items]
Total debt	$ 14,239	$ 15,699
Maine Water Company \| Revolving Fund Loan \| State revolving fund loans \| Minimum
Debt Instrument [Line Items]
Rate	0.00%
Maine Water Company \| Revolving Fund Loan \| State revolving fund loans \| Maximum
Debt Instrument [Line Items]
Rate	2.23%

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Use of Estimates

The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Depreciable Utility Plant and Equipment

The major components of depreciable plant and equipment as of December 31, 2023 and 2022 are as follows:


	2023		2022
Source of supply	$	207,537	191,082
Pumping plant	284,308		269,246
Water treatment plant	354,617		327,492
Transmission and distribution plant	2,820,358		2,615,640
General plant	301,091		257,825
Total depreciable plant and equipment	$	3,967,911	3,661,285

Depreciation is computed using the straight-line method over the estimated remaining service lives of groups of assets. The estimated service lives of depreciable plant and equipment are as follows:


			Useful Lives
Source of supply			20 to 100 years
Pumping plant			5 to 70 years
Water treatment plant			5 to 50 years
Transmission and distribution plant			10 to 100 years
General plant			4 to 61 years

For the years 2023, 2022 and 2021, depreciation expense as a percent of the beginning of the year balance of depreciable plant was 2.9%, 3.3% and 3.2%, respectively. Depreciation expense for utility plant for the years ended December 31, 2023, 2022 and 2021 was $104,325, $99,413 and $91,906, respectively. The cost of utility plant retired (less salvage) is charged to accumulated depreciation and no gain or loss is recognized. To the extent SJW Group recovers retirement costs through rates during the life of the associated asset and before the costs are incurred, these amounts result in a regulatory liability being reported based on the amounts previously recovered through customer rates until the costs to retire those assets are incurred.

Allowance For Funds Used During Construction (“AFUDC”)

AFUDC represents the capitalized costs of borrowed funds or a return on equity funds used to finance utility plant under construction and is capitalized as part of construction work in progress. AFUDC is recorded to the extent approved by the respective states’ utility regulators and is recovered through water rates as the utility plant depreciates. The amount of AFUDC debt capitalized in 2023, 2022 and 2021 was $2,900, $4,703 and $4,422, respectively. Interest on long-term debt is presented net of AFUDC debt capitalized on the Consolidated Statement of Comprehensive Income. The amount of AFUDC equity capitalized in 2023, 2022 and 2021 was $2,114, $1,551 and $1,926, respectively, reflected in “Other, net” on the Consolidated Statement of Comprehensive Income.

Intangible Assets

Finite-lived intangible assets are recorded at cost and are amortized using the straight-line method over the estimated useful life of the asset, ranging from 5 to 70 years. Indefinite-lived intangibles assets are not amortized, but instead are tested for impairment annually, or more frequently if events or changes in circumstances indicate that it is more likely than not that the asset is impaired. (see Note 8, “Intangible Assets”).

Nonutility Properties and Real Estate Investments

Nonutility properties and real estate investments are recorded at cost and consist primarily of land and buildings. Net gains and losses from the sale of nonutility properties and real estate investments are recorded as a component of other (expense) income and operating expense, respectively, in the Consolidated Statements of Comprehensive Income. Nonutility property is property that is neither used nor useful in providing water utility services to customers and is excluded from rate base for rate-setting purposes. SJWC recognizes gain or loss on the disposition of nonutility property in accordance with California Public Utilities Commission (“CPUC”) Code Section 790, whereby the net proceeds are reinvested back into property that is useful in providing water utility services to customers. CTWS and TWC do not have regulatory restrictions on the use of proceeds from the sale of nonutility property. There is no depreciation associated with Water Utility Services nonutility property as it is all undeveloped land.

The major components of nonutility properties and real estate investments are as follows as of December 31:


	2023		2022
Land	$	4,137	12,615
Wholesale water supply assets	8,465		—
Buildings and improvements	748		45,418

Subtotal	13,350		58,033
Less: accumulated depreciation and amortization	194		17,158
Total	$	13,156	40,875

Depreciation on buildings and improvements for real estate investments is computed using the straight-line method over the estimated useful lives of the assets, ranging from 7 to 39 years.

In March 2023, SJW Land Company entered into a broker agreement to sell its warehouse buildings and land property located in Knoxville, Tennessee. The company reclassified the Tennessee properties from held-and-used to held-for-sale at March 31, 2023. The Company’s intention is to complete the sale of these assets within a twelve-month period. The company records the Tennessee properties at the lower of their carrying value or estimated fair value less cost to sell, and also stopped recording depreciation on assets held for sale. SJW Group’s broker provides the estimated fair value of the Tennessee properties. No impairment has been recorded as the estimated fair value less cost to sell exceeds carrying value. The property is classified as part of the Real Estate Services reportable segment.

The sale of the Tennessee properties does not represent a strategic shift that has or will have a major effect on SJW Group; therefore, the sale does not qualify for treatment as a discontinued operation.

The following represents the major components of the Tennessee warehouse building and land property recorded in assets held-for-sale on the Consolidated Balance Sheets as of December 31, 2023:


	2023
Land	$	13,170
Buildings and improvements	44,950

Subtotal	58,120
Less: accumulated depreciation and amortization	17,270
Total	$	40,850

On October 29, 2021, SJWC sold two nonutility properties located in San Jose, California for $13,150. For the year ended December 31, 2022, SJW Group recognized the pre-tax gain on the sale of nonutility properties of $7,230, after selling expenses of $277 for one of the properties sold, and a gain of $5,442 which was deferred in 2021 pending the CPUC review. On February 15, 2022, the CPUC review was complete and SJWC recognized the deferred gain on sale of nonutility property in 2022.

A former wholly owned subsidiary of SJW Group, Texas Water Alliance, was sold to Guadalupe-Blanco River Authority (“GBRA”) in 2017. The sales agreement with GBRA included a holdback amount of $3,000 to be paid to SJW Group on June 30, 2021, subject to reduction under certain conditions. SJW Group received the holdback amount without reduction from the GBRA on June 29, 2021 and recognized a pre-tax gain on sale of $3,000.

Also, on October 29, 2021, SJW Land sold undeveloped land located in San Jose, California for $2,600. SJW Group recognized a pre-tax gain on the sale of real estate investments of $927, after selling expenses of $121.

The following schedule shows the future minimum rental payments to be received from third parties under operating leases that have remaining noncancelable lease terms in excess of one year as of December 31, 2023:


Year ending December 31:	Rental Revenue
2024	$	4,758
2025	5,063
2026	5,290
2027	3,990
2028	1,679
Thereafter	—

Business Combinations and Asset Acquisitions

SJW Group applies the provisions of Financial Accounting Standards Board (“FASB”) ASC Topic 805— “Business Combinations” for the accounting related to business and asset acquisitions. First, SJW Group applies the guidance in Topic 805 to determine whether a transaction represents a business combination or an acquisition of assets. If the transaction is a business combination, Topic 805 requires SJW Group to recognize separately from goodwill the assets acquired and the liabilities assumed at the acquisition date fair values. Goodwill as of the acquisition date is measured as the excess of consideration transferred over the net of the acquisition date fair values of the assets acquired and the liabilities assumed. If the transaction is an acquisition of assets, the cost of the transaction, including transaction costs, is allocated to the individual assets acquired and liabilities assumed on a relative fair value basis without recognition of goodwill. While SJW Group uses best available estimates and assumptions to accurately value assets acquired and liabilities assumed at the acquisition date, such estimates are inherently uncertain and subject to refinement. For business combinations, Topic 805 provides for a measurement

period from the acquisition date of up to one year, during which we may record adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the measurement period, any subsequent adjustments are recorded to our Consolidated Statements of Comprehensive Income. Accounting for business combinations and asset acquisitions requires SJW Group to make significant estimates and assumptions, especially at the acquisition date, including estimates for intangible assets, contractual obligations assumed and pre-acquisition contingencies. Although SJW Group believes that the assumptions and estimates we make are reasonable and appropriate, they are based in part on historical experience and information obtained from the acquired company’s management and are inherently uncertain. Events and circumstances may occur that may affect the accuracy or validity of such assumptions, estimates or actual results. Examples of critical estimates in valuing certain of the intangible assets we have acquired include, but are not limited to: future expected cash flows from services; historical and expected customer attrition rates and anticipated growth in revenue from acquired customers; the expected use of the acquired assets; and discount rates. See Note 14, “Acquisitions” for further information on business combinations and asset acquisitions.

Impairment of Long-Lived Assets and Goodwill

In accordance with the requirements of FASB ASC Topic 360—“Property, Plant and Equipment,” the long-lived assets of SJW Group, including property, plant and equipment and finite-lived intangible assets, are reviewed for impairment when changes in circumstances or events indicate that the carrying amount of the assets may not be recoverable. In assessing qualitative factors, SJW Group considers the impact of these key factors: change in industry and competitive environment, financial performance, and other relevant company-specific events. When such changes in circumstances or events occur, the company assesses recoverability by determining whether the carrying value of such assets will be recovered through the undiscounted expected future cash flows. To the extent an impairment exists, the asset is written down to its estimated fair value with a corresponding charge to operations in the period in which the impairment is identified. No impairments occurred during 2023 and 2022. During the year ended December 31, 2021, SJW Group determined that an implementation project for a customer care billing system at TWC will no longer be pursued and accordingly wrote-off $2,211 of accumulated costs for the project that were previously recorded as construction work in progress on the Consolidated Balance Sheets.

Goodwill is not amortized but is tested for impairment annually on October 1st or more frequently if an event occurs or circumstances change that would more likely than not, reduce the fair value of a reporting unit below its carrying amount. Indefinite-lived intangible assets, other than goodwill, are not amortized but are tested for impairment annually on October 1st or more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of indefinite-lived intangible assets below their carrying amount. In performing impairment tests of goodwill and indefinite-lived intangible assets, SJW Group first performs a qualitative assessment to determine whether it is necessary to perform the quantitative impairment test. In assessing the qualitative factors, SJW Group considers the impact of these key factors: change in industry and competitive environment, financial performance, macroeconomic conditions, and other relevant Company-specific events. If SJW Group determines that as a result of the qualitative assessment it is more likely than not (> 50% likelihood) that the fair value is less than carrying amount, then a quantitative test is performed. As of October 1, 2023, SJW Group performed qualitative assessments of both goodwill and indefinite-lived intangible assets and found no indicators of impairment and therefore did not perform quantitative impairment tests. No impairments of goodwill or indefinite-lived intangible assets occurred during 2023, 2022 or 2021.

Cash and Cash Equivalents

Cash and cash equivalents primarily consisted of cash on deposit with banks and short-term, highly liquid investments with original maturities of three months or less. Restricted funds consisted of proceeds from state revolving fund bond issuances to MWC of $4,000 on December 23, 2020, for capital expenditures. Proceeds were held by a trustee for the bonds and released when the funding conditions were met. As of December 31, 2021, $2,789 of the proceeds from the December 23, 2020, bond were released by the trustee, and the balance of $1,211 was released during the year ended December 31, 2022.

Accounts Receivable

Accounts receivable are recorded at the invoiced amounts. The allowance for uncollectible accounts is SJW Group’s best estimate of credit losses in its existing accounts receivable and is determined based on current expected losses. The estimate is based on historical loss information adjusted for current conditions. Accounts balances are written off against the allowance when it is probable the receivable will not be recovered or is over a certain number of days outstanding.

Financial Instruments and Investments

The following instruments are not measured at fair value on the company’s Consolidated Balance Sheets but require disclosure of fair values: cash and cash equivalents, accounts receivable, accounts payable, and lines of credit. The estimated fair value of such instruments approximates their carrying value as reported on the Consolidated Balance Sheets. The fair value of such

financial instruments are determined using the income approach based on the present value of estimated future cash flows. The fair value of these instruments would be categorized as Level 2 in the fair value hierarchy, with the exception of cash and cash equivalents, which would be categorized as Level 1. The fair value of long-term debt is discussed in Note 6, “Long-Term Debt” and pension plan assets in Note 11, “Benefit Plans.”

SJW Group has investments in company owned life insurance which are valued at cash surrender value of the policies as reported by the insurer. The value of these contracts is based principally on a referenced pool of investment funds that actively redeem shares, are observable and measurable, and are presented in “Investments” on SJW Group’s Consolidated Balance Sheets. As of December 31, 2023 and 2022, the value of the company owned life insurance was $8,220 and $7,342, respectively, of which $3,937 and $3,420, respectively, was related to assets to fund CTWS’ supplemental retirement plan agreements. See discussion on pension plans in Note 11, “Benefit Plans.”

Income Taxes

Income taxes are accounted for using the asset and liability method. Deferred tax assets and liabilities are recognized for the effect of temporary differences between financial and tax reporting. Deferred tax assets and liabilities are measured using current tax rates in effect. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period that includes the enactment date.

To the extent permitted by the regulators, investment tax credits resulting from public utility plant additions are deferred and amortized over the estimated useful lives of the related property. In addition, investment tax credits resulting from other asset additions are recognized in the year the property is put in service.

Advances for Construction and Contributions in Aid of Construction

In California, advances for construction received after 1981 are primarily refunded ratably over 40 years. In Connecticut and Maine, advances for construction are refunded as services are connected to the main, over periods not exceeding 15 years and in Texas advances for construction are non-refundable. Estimated refunds for the next five years and thereafter are shown below:


	Estimated Refunds
2024	$	3,034
2025	2,970
2026	2,878
2027	2,793
2028	2,726
Thereafter	46,574

As of December 31, 2023, advances for construction were $146,582 of which $55,170 was related to non-refundable advances for construction and $30,437 was related to advances which are refunded based on service connections made. As of December 31, 2023 and 2022, the fair value of the advances for construction refunded ratably over 40 years is $40,915 and $44,715, respectively.

Contributions in aid of construction represent funds or property received from developers that are not refundable under applicable regulations. Depreciation applicable to utility plant constructed with these contributions is charged to contributions in aid of construction.

Customer advances and contributions in aid of construction received subsequent to 1986 and prior to June 12, 1996, generally must be included in federal taxable income, except for CTWS. Taxes paid relating to advances and contributions are recorded as deferred tax assets for financial reporting purposes and are amortized over 40 years for advances and over the tax depreciable life of the related asset for contributions. Receipts subsequent to June 12, 1996, are generally exempt from federal taxable income, unless specifically prescribed under treasury regulations, including CTWS.

Advances and contributions received subsequent to 1991 and prior to 1997 are included in state taxable income, except for CTWS.

Asset Retirement Obligation

SJW Group’s asset retirement obligation is recorded as a liability included in other non-current liabilities. It reflects principally the retirement costs of wells and other anticipated clean-up costs, which by law, must be remediated upon retirement.

As of December 31, 2023 and 2022, the asset retirement obligation is as follows:


	2023			2022
Estimated future retirement costs	$	4,198		4,426
Discount rate	6		%	6	%


Retirement obligation, present value	$	862		920

Revenue

SJW Group recognizes revenue under ASC Topic 606—“Revenue from Contracts with Customers” for metered revenue of Water Utility Services, which includes billings to customers based on meter readings plus an estimate of water used between the customers’ last meter reading and the end of the accounting period. SJW Group satisfies its performance obligation upon delivery of water to the customer at which time the customer consumes the benefits provided by the company. The customer is generally billed on a quarterly, monthly, or bi-monthly basis after water delivery has occurred. The customer is charged both a service charge which is based upon meter size and covers a portion of the fixed costs of furnishing water to the customer and a consumption charge based on actual water usage. Unbilled revenue from the last meter reading date to the end of the accounting period is estimated based on the most recent usage patterns, production records and the effective tariff rates. As the company has the right to bill for services that it has provided, SJW Group estimates the dollar value of deliveries during the unbilled period and recognizes the associated revenue. Actual results could differ from those estimates, which may result in an adjustment to revenue when billed in a subsequent period.

SJW Group also recognizes revenue under ASC Topic 980-605-25—“Alternative Revenue Programs.” Under programs established by the CPUC and Public Utilities Regulatory Authority of Connecticut (“PURA”), allowing for automatic adjustment of future rates, the company recognizes revenue when it is objectively determinable, probable of recovery and expected to be collected within 24 months of the year-end in which the revenue is recognized. A reserve, based on an estimate of actual usage over the recovery period, is recorded for any amounts SJW Group estimates will not be collected within the 24-month period. SJW Group’s alternative revenue programs include SJWC’s Water Conservation Memorandum Account (“WCMA”) and CTWS’s Water Rate Adjustment mechanism (“WRA”). See further discussion on WCMA and WRA in Note 3, “Regulatory Matters.”

SJW Group’s revenues also reflect the impact of other balancing and memorandum accounts and other regulatory mechanisms that are accounted for under FASB ASC Topic 980—“Regulated Operations.” Balancing and memorandum accounts are recognized when it is probable that future recovery of previously incurred costs or future refunds that are to be credited to customers will occur through the ratemaking process. See further discussion in Note 3, “Regulatory Matters.”

SJW Group also recognizes revenue from rental income, which represents lease rental income. Tenants pay monthly in accordance with lease agreements and SJW Group recognizes the income ratably over the lease term as this is the most representative of the pattern in which the benefit is expected to be derived from SJW Group’s underlying asset.

Detail of SJW Group’s revenue is as follows for the years ended December 31:


	2023		2022	2021
Revenue from contracts with customers	$	678,168	586,918	559,568
Alternative revenue programs, net	3,634		(1,312)	5,304
Other balancing and memorandum accounts and regulatory mechanisms, net	(17,123)		29,487	3,435
Rental income	5,684		5,605	5,379
	$	670,363	620,698	573,686

Revenue also includes a surcharge collected from regulated customers that is paid to the CPUC. This surcharge is recorded both in operating revenues and administrative and general expenses. For the years ended December 31, 2023, 2022 and 2021, the surcharge was $4,085, $6,121 and $5,691, respectively.

Share-Based Compensation

SJW Group calculates the fair value of service-based and performance-based restricted stock awards based on the grant date fair value of the company’s stock price reduced by the present value of the dividends expected to be declared on outstanding shares.

SJW Group utilizes the Monte Carlo valuation model, which requires the use of subjective assumptions, to compute the fair value of market-vesting restricted stock units.

The compensation cost for service-based restricted stock awards are charged to income on a straight-line basis over the requisite service period, which is the vesting period. For performance-based stock awards, compensation expense is charged to income on a straight-line basis over the requisite service period based on expected attainment of performance targets. Changes in the estimates of the expected attainment of performance targets will result in a change in the number of shares that are expected to vest which may cause a cumulative catch up for the amount of share-based compensation expense during each reporting period in which such estimates are altered. Forfeitures are accounted for as they occur.

Earnings per Share

Basic earnings per share is calculated using income available to common stockholders, divided by the weighted average number of shares outstanding during the period. Diluted earnings per share is calculated using income available to common stockholders divided by the weighted average number of shares of common stock including both shares outstanding and shares potentially issuable in connection with restricted common stock awards under SJW Group’s long-term incentive plans, shares potentially issuable under the performance stock plans assumed through the business combination with CTWS, and shares potentially issuable under SJW Group’s employee stock purchase plans. Restricted common stock units of 14,193, 25,127 and 16,347 as of December 31, 2023, 2022 and 2021, respectively, were excluded from the dilutive earnings per share calculation as their effect would have been anti-dilutive.

Reclassifications

Certain reclassifications have been made to prior periods in the Consolidated Financial Statements and Notes to conform to the current presentation.

New Accounting Standards

In November 2023, the FASB issued Accounting Standards Update (“ASU”) 2023-07, “Improvements to Reportable Segment Disclosures.” (“ASU 2023-07”). Among other changes, the ASU requires disclosure of significant segment expenses and extends certain annual disclosures to interim periods. The ASU is effective for SJW Group beginning with its annual financial statements for the year ending December 31, 2024. Early adoption is permitted. SJW Group is currently evaluating the requirements of ASU 2023-07.

In December 2023, the FASB issued ASU 2023-09, “Improvements to Income Tax Disclosures.” The ASU amends certain income tax disclosure requirements, including adding requirements to present the reconciliation of income tax expense computed at the statutory rate to actual income tax expense using both percentages and amounts and providing a disaggregation of income taxes paid. Further, certain disclosures are eliminated, including the current requirement to disclose information on changes in unrecognized tax benefits in the next 12 months. The ASU is effective for SJW Group beginning with its annual financial statements for the year ending December 31, 2025. Early adoption is permitted. SJW Group is currently evaluating the requirements of ASU 2023-09.

Regulatory Matters - Regulatory Assets, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Regulatory Assets [Line Items]
Authorized revenue, threshold percentage	2.00%
Regulatory assets, net not earning a return	$ 43,141	$ 66,373
Regulatory assets:
Total regulatory assets	240,186	265,775
Less: current regulatory asset	4,276	19,740
Regulatory assets, less current portion	235,910	246,035
Regulatory liabilities:
Regulatory Liabilities	464,167	122,432
Less: current regulatory liabilities	3,059	3,672
Regulatory liabilities, less current portion	$ 461,108	118,760
Minimum
Regulatory liabilities:
Estimated service lives of assets	4 years
Maximum
Regulatory liabilities:
Estimated service lives of assets	100 years
Cost of removal
Regulatory liabilities:
Regulatory Liabilities	$ 346,418	0
Cost of removal \| Public Utilities, Property, Plant and Equipment, Accumulated Depreciation
Regulatory liabilities:
Regulatory Liabilities		316,647
Future income tax benefits due to customers
Regulatory liabilities:
Regulatory Liabilities	88,610	94,426
Unrecognized pensions and other postretirement benefits
Regulatory liabilities:
Regulatory Liabilities	20,196	14,307
Revenue adjustment mechanisms
Regulatory liabilities:
Regulatory Liabilities	5,536	9,528
Other regulatory liabilities
Regulatory liabilities:
Regulatory Liabilities	3,407	4,171
Future income tax benefits due to customers
Regulatory assets:
Total regulatory assets	157,669	137,860
Unrecognized pensions and other postretirement benefits
Regulatory assets:
Total regulatory assets	24,593	45,799
Business combinations debt premium
Regulatory assets:
Total regulatory assets	14,855	17,396
Employee benefit costs
Regulatory assets:
Total regulatory assets	9,815	8,068
MWRAM
Regulatory assets:
Total regulatory assets	9,361	10,864
Customer Assistance Program (“CAP”) balancing account
Regulatory assets:
Total regulatory assets	5,457	3,417
Catastrophic event memorandum accounts (“CEMA”)
Regulatory assets:
Total regulatory assets	4,819	3,485
2022 general rate case interim memorandum account
Regulatory assets:
Total regulatory assets	4,571	20,650
Water supply costs
Regulatory assets:
Total regulatory assets	583	9,873
Other
Regulatory assets:
Total regulatory assets	$ 8,463	$ 8,363

Lines of Credit - Schedule of Lines of Credit (Details) - Revolving Credit Facility - Line of Credit - USD ($)	Dec. 31, 2023	Feb. 06, 2023	Dec. 31, 2022	Oct. 31, 2022
Line of Credit Facility [Line Items]
Line Limit	$ 350,000,000
Amounts Outstanding	171,500,000		$ 159,578,000
Unused Portion	178,500,000
Syndicated Credit Agreement
Line of Credit Facility [Line Items]
Line Limit	300,000,000
Amounts Outstanding	121,500,000		115,000,000
Unused Portion	178,500,000
SJW Group Credit Agreement Maturing August 2028
Line of Credit Facility [Line Items]
Line Limit	50,000,000
Amounts Outstanding	10,000,000		0
Unused Portion	40,000,000
SJWC Credit Agreement Maturing August 2028
Line of Credit Facility [Line Items]
Line Limit	140,000,000
Amounts Outstanding	56,000,000		95,000,000
Unused Portion	84,000,000
CTWS Credit Agreement Maturing August 2028
Line of Credit Facility [Line Items]
Line Limit	90,000,000
Amounts Outstanding	53,000,000		20,000,000
Unused Portion	37,000,000
SJWTX Credit Agreement Maturing August 2028
Line of Credit Facility [Line Items]
Line Limit	20,000,000
Amounts Outstanding	2,500,000		0
Unused Portion	17,500,000
CTWS Credit Agreement Maturing August 2028
Line of Credit Facility [Line Items]
Line Limit	10,000,000			$ 10,000
Amounts Outstanding	10,000,000		4,578,000
Unused Portion	0
CTWS Credit Agreement Maturing May 2025
Line of Credit Facility [Line Items]
Line Limit	40,000,000	$ 40,000,000
Amounts Outstanding	40,000,000		$ 40,000,000
Unused Portion	$ 0

Benefit Plans - Schedule of Accumulated and Projected Benefit Obligations (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Pension Benefits
Plans with projected benefit obligation in excess of plan assets:
Projected benefit obligation	$ 43,001	$ 217,358
Fair value of plan assets	0	169,077
Plans with accumulated benefit obligation in excess of plan assets:
Accumulated benefit obligation	39,652	35,813
Fair value of plan assets	0	0
Other Postretirement Benefits
Plans with accumulated benefit obligation in excess of plan assets:
Accumulated benefit obligation	15,580	16,411
Fair value of plan assets	$ 9,401	$ 7,853

Financial Statement Schedule

12 Months Ended

Dec. 31, 2023

Condensed Financial Information Disclosure [Abstract]

Financial Statement Schedule

FINANCIAL STATEMENT SCHEDULE

Schedule I

SJW Group (Parent Only)

CONDENSED BALANCE SHEETS

(in thousands, except share and per share data)


	December 31,
	2023		2022
Assets

Investments in subsidiaries	$	1,753,250	1,675,545

Current assets:
Cash and cash equivalents	868		5,142
Intercompany receivables	2,239		—

Intercompany notes receivable	69,746		13,094
Other current assets	243		193
Total current assets	73,096		18,429
Other assets


Other	193		183
Total other assets	193		183
Total assets	$	1,826,539	1,694,157

Capitalization and Liabilities
Capitalization:
Stockholders’ equity:
Common stock, $0.001 par value; authorized 70,000,000 shares in 2023 and 2022; issued and outstanding 32,023,004 shares in 2023 and 30,801,912 shares in 2022	$	32	31
Additional paid-in capital	736,191		651,004
Retained earnings	495,383		458,356
Accumulated other comprehensive income	1,791		1,477
Total stockholders’ equity	1,233,397		1,110,868
Long-term debt, less current portion	557,028		556,627
Total capitalization	1,790,425		1,667,495
Current liabilities:
Line of credit	10,000		—
Intercompany payables	—		789
Intercompany notes payable	1,726		4,166

Accrued interest	3,255		3,208
Income tax payable	16,427		14,736
Other current liabilities	629		398
Total current liabilities	32,037		23,297
Deferred income taxes	3,099		2,373

Other noncurrent liabilities	978		992
Total capitalization and liabilities	$	1,826,539	1,694,157

See Accompanying Notes to Schedule I

FINANCIAL STATEMENT SCHEDULE

Schedule I

SJW Group (Parent Only)

CONDENSED STATEMENTS OF COMPREHENSIVE INCOME

Years ended December 31 (in thousands)


	2023		2022	2021
Operating revenue	$	—	—	—
Operating expense:
Administrative and general	2,239		1,977	2,050
Property taxes and other non-income taxes	80		93	(38)


Total operating expense	2,319		2,070	2,012
Operating loss	(2,319)		(2,070)	(2,012)
Other (expense) income:
Interest on long-term debt and other interest expense	(17,692)		(17,795)	(18,673)

Gain on sale of asset	—		—	3,000
Interest income on intercompany notes receivable	3,862		81	313
Other, net	1,034		(421)	(473)
Loss before income taxes and equity earnings from subsidiaries	(15,115)		(20,205)	(17,845)
Income tax benefit	(4,294)		(5,523)	(4,660)
Equity earnings from subsidiaries, net of taxes	95,808		88,510	73,663
SJW Group net income	84,987		73,828	60,478
Other comprehensive income, net	314		1,640	901
SJW Group comprehensive income	$	85,301	75,468	61,379

See Accompanying Notes to Schedule I

FINANCIAL STATEMENT SCHEDULE

Schedule I

SJW Group (Parent Only)

CONDENSED STATEMENTS OF CASH FLOWS

Years ended December 31 (in thousands)


	2023		2022	2021
Operating activities:
Net income	$	84,987	73,828	60,478
Adjustments to reconcile net income to net cash used in operating activities:
Earnings from investment in subsidiaries	(95,808)		(88,510)	(73,663)

Deferred income taxes	718		(163)	(185)
Stock-based compensation	696		779	679
Gain on sale of asset	—		—	(3,000)

Changes in operating assets and liabilities, net of acquired assets and liabilities:
Accounts payable and other current liabilities	281		185	(226)
Intercompany receivables	(6,018)		(3,916)	(1,586)
Tax payable and other accrued taxes	1,550		6,883	4,782
Accrued interest	47		(15)	28
Return on capital from investments in subsidiaries	50,550		55,950	45,900

Other changes, net	607		500	605
Net cash provided by operating activities	37,610		45,521	33,812
Investing activities:
Proceeds to subsidiaries for notes receivable	(148,392)		(27,713)	(75,986)
Repayments from subsidiaries for notes receivable	91,740		20,634	85,651
Investments in subsidiaries	(25,500)		(25,892)	(35,118)
Proceeds from sale of asset	—		—	3,000

Net cash used in investing activities	(82,152)		(32,971)	(22,453)
Financing activities:
Borrowings from subsidiaries for notes payable	700		15,355	34,317
Repayments to subsidiaries for notes payable	(3,140)		(20,901)	(44,145)
Borrowings from lines of credit	10,000		—	—

Repayments of long-term borrowings	—		—	(50,000)
Issuance of common stock, net of issuance costs	80,659		39,085	91,029
Debt issuance costs	(46)		(224)	—
Dividends paid	(47,905)		(43,582)	(40,137)

Net cash provided (used in) by financing activities	40,268		(10,267)	(8,936)
Net change in cash and cash equivalents	(4,274)		2,283	2,423
Cash and cash equivalents, beginning of year	5,142		2,859	436
Cash and cash equivalents, end of year	$	868	5,142	2,859
Cash paid (refunded) during the year for:
Interest	$	17,465	17,512	18,518
Income taxes	$	(4,870)	(5,483)	(4,998)
Supplemental disclosure of non-cash activities:
Share-based compensation from investment in subsidiaries	$	3,778	4,656	4,413

See Accompanying Notes to Schedule I

FINANCIAL STATEMENT SCHEDULE

Schedule I

SJW Group (Parent Only)

NOTES TO CONDENSED FINANCIAL STATEMENTS

Years ended December 31, 2023, 2022 and 2021

(Dollars in thousands, except share and per share data)

Restrictions on Dividends and Other Distributions

SJW Group is a legal entity separate and distinct from its various subsidiaries. As a holding company with no significant operations of its own, SJW Group’s principal sources of funds are dividends or other distributions from its operating subsidiaries, borrowings and the issuance of equity. The rights of SJW Group and, consequently, its creditors and shareholders, to participate in any distribution of assets of any of its subsidiaries are subject to certain prior claims of creditors of such subsidiary.

The abilities of certain of SJW Group’s subsidiaries to transfer funds to SJW Group in the form of cash dividends, loans or advances are subject to certain contractual and regulatory restrictions. SJW Group and its subsidiaries are subject to debt covenants that could limit their respective abilities to pay dividends. For a discussion on these covenants, see Note 6, “Long-term Debt” to SJW Group and Subsidiaries Notes to Consolidated Financial Statements. In addition, CTWS and its regulated subsidiaries are prohibited from paying dividends if not in compliance with minimum equity requirements under commitments made by SJW Group as part of the approval granted by the PURA and the Maine Public Utilities Commission in connection with the acquisition of CTWS.

As of December 31, 2023, the restricted net assets of SJW Group’s subsidiaries were approximately $408,244 or 33% of consolidated net assets of SJW Group.

Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Feb. 25, 2022	Dec. 31, 1997
Finite-Lived Intangible Assets [Line Items]
Intangible assets	$ 35,946	$ 35,959
Intangible assets, customer relationships	1,400
Amortization of Intangible Assets	1,310	3,869	$ 1,553
Future Amortization of Intangible Assets
2023	1,310
2024	1,310
2025	1,310
2026	1,310
2027	1,310
Thereafter	$ 1,310
Minimum
Finite-Lived Intangible Assets [Line Items]
Useful life of intangible assets	5 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Useful life of intangible assets	70 years
Concession fees
Finite-Lived Intangible Assets [Line Items]
Intangible assets	$ 6,800	6,800		$ 1,600	$ 6,800
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Intangible assets	13,400	13,400
Other intangibles
Finite-Lived Intangible Assets [Line Items]
Intangible assets	15,746	$ 15,759
Service Agreements
Finite-Lived Intangible Assets [Line Items]
Intangible assets	4,292
Useful life of intangible assets					25 years
Infrastructure
Finite-Lived Intangible Assets [Line Items]
Intangible assets	5,984
Contractual Rights
Finite-Lived Intangible Assets [Line Items]
Intangible assets	$ 1,040

Benefit Plans - Amounts Recognized in Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Noncurrent assets	$ 33,794	$ 16,990
Noncurrent liabilities	(46,836)	(59,738)
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Noncurrent assets	30,671	16,005
Current liabilities	(2,365)	(2,089)
Noncurrent liabilities	(40,636)	(51,079)
Liabilities, net	(12,330)	(37,163)
Other Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Noncurrent assets	3,123	679
Current liabilities	(113)	(139)
Noncurrent liabilities	(6,067)	(8,418)
Liabilities, net	$ (3,057)	$ (7,878)

- Definition

Amount of asset, recognized in statement of financial position, for overfunded defined benefit pension and other postretirement plans.

+ References + Details

Long-Term Debt - Narrative (Details) - USD ($) $ in Thousands		12 Months Ended
	Aug. 14, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Nov. 15, 2023	Oct. 31, 2022	Jul. 14, 2022	Jun. 28, 2022	Apr. 06, 2022
Debt Instrument [Line Items]
Fair value of long-term debt		$ 1,394,412	$ 1,294,354
Seller financing in asset acquisition, net of discount		15,400	$ 0	$ 0
Significant Observable Inputs (Level 2)
Debt Instrument [Line Items]
Fair value of long-term debt		1,378,683
Significant Unobservable Inputs (Level 3)
Debt Instrument [Line Items]
Fair value of long-term debt		$ 15,729
KT Water Resource L. P.
Debt Instrument [Line Items]
Asset acquisition, post-closing production payment	$ 29,000
Asset acquisition, period of post-closing production payment	29 years
Seller financing in asset acquisition, net of discount	$ 15,400
SJWC \| Senior notes \| 4.85% Senior Note, Series P
Debt Instrument [Line Items]
Aggregate principal amount							$ 70,000
Rate							4.85%
Connecticut Water \| Senior notes \| 4.71% Senior Note, Series 2022, Due 2052
Debt Instrument [Line Items]
Aggregate principal amount								$ 25,000
Rate								4.71%
Connecticut Water \| Senior notes \| 6.46% Senior Note, Series 2023 Due 2054
Debt Instrument [Line Items]
Aggregate principal amount					$ 25,000
Rate					6.46%
SJWTX \| Senior notes \| 5.54% Senior Notes, Due May 2052
Debt Instrument [Line Items]
Aggregate principal amount						$ 15,000
Rate						5.54%
Maine Water \| Bank term loans \| 4.54% Note Due May 2042
Debt Instrument [Line Items]
Aggregate principal amount									$ 15,000
Rate									4.54%

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Audit Information [Abstract]
Auditor Name	Deloitte & Touche LLP
Auditor Location	San Jose, California
Auditor Firm ID	34

Commitments (Details) $ / billions_gallons in Thousands, $ in Thousands						3 Months Ended	12 Months Ended
	May 19, 2023 gal	Jun. 16, 2022	Nov. 07, 2020 $ / ft³ gal	Nov. 06, 2020	May 19, 2003	Mar. 31, 2023	Dec. 31, 2023 USD ($) acre_foot employee $ / billions_gallons $ / ft³ gal	Dec. 31, 2022 USD ($) gal	Dec. 31, 2021 USD ($) gal	Dec. 31, 2008 gal	Dec. 31, 1997 USD ($)	Feb. 25, 2022 USD ($)
Long-term Purchase Commitment [Line Items]
Purchased water							$ 135,982	$ 122,334	$ 98,231
Contract agreement, incremental up-front payment											$ 5,000
Intangible assets							$ 35,946	35,959
Union Member
Long-term Purchase Commitment [Line Items]
Collective bargaining agreement percent of wage increase for 2023						6.00%
Collective bargaining agreement percent of wage increase for 2024						3.50%
Collective bargaining agreement percent of wage increase for 2025						5.50%
SJW Group
Long-term Purchase Commitment [Line Items]
Number of employees \| employee							387
SJW Group \| Union Member
Long-term Purchase Commitment [Line Items]
Number of employees \| employee							240
Maximum
Long-term Purchase Commitment [Line Items]
Useful life of intangible assets							70 years
RWA \| Capacity Agreement
Long-term Purchase Commitment [Line Items]
Current contract water rate (in USD per million of gallons) \| $ / billions_gallons							3,100
RWA \| Maximum \| Capacity Agreement
Long-term Purchase Commitment [Line Items]
Agreement to purchase water (in gallons of water) \| gal										1,000,000
MDC \| Capacity Agreement
Long-term Purchase Commitment [Line Items]
Current contract water rate (in USD per million of gallons) \| $ / ft³							3.80
Purchase commitment period					50 years
Agreement to purchase water (in gallons of water) \| gal	280,000,000
Kennebec Water District
Long-term Purchase Commitment [Line Items]
Agreement to purchase water (in gallons of water) \| gal			50,000,000.00
Long-term purchase commitment, wholesale discount (in USD per hundred cubic feet) \| $ / ft³			0.20
Contract agreement, term			20 years	20 years
Tariff rate (in USD per hundred cubic feet) \| $ / ft³							1.51
International Union of Operating Engineers \| SJW Group
Long-term Purchase Commitment [Line Items]
Bargaining agreements, term						3 years
Service Agreements
Long-term Purchase Commitment [Line Items]
Useful life of intangible assets											25 years
Intangible assets							$ 4,292
Concession fees
Long-term Purchase Commitment [Line Items]
Intangible assets							$ 6,800	$ 6,800			$ 6,800	$ 1,600
Lease renewal term												2 years
Santa Clara Valley Water District
Long-term Purchase Commitment [Line Items]
Master contract, negotiated term for delivery schedules							3 years
Water purchased (in millions of gallons) \| gal							18,300,000,000	18,200,000,000	19,400,000,000
Purchased water							$ 111,173	$ 96,793	$ 91,938
Reduction in delivery schedule, percent		23.00%
Minimum percent of delivery schedule to be purchased							90.00%
Minimum volume of water to be purchased (in million gallons) \| gal							18,900,000,000
Cost of water to be purchased							$ 121,182
Current contract water rate (in USD per million of gallons) \| $ / billions_gallons							6,411
Guadalupe-Blanco River Authority \| SJWTX, Inc.
Long-term Purchase Commitment [Line Items]
Long-term purchase commitment, minimum area required (in acre-feet of water) \| acre_foot							7,650
Notice period required for contract adjustment							60 days
Lower Colorado River Authority \| SJWTX, Inc.
Long-term Purchase Commitment [Line Items]
Long-term purchase commitment, minimum area required (in acre-feet of water) \| acre_foot							350

Summary of Significant Accounting Policies - Nonutility Properties and Real Estate Investments (Details)				12 Months Ended
	Mar. 31, 2023 USD ($)	Oct. 29, 2021 USD ($) property	Jun. 29, 2021 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Jun. 30, 2021 USD ($)
Components of Real Estate Investments [Abstract]
Land				$ 4,137,000	$ 12,615,000
Wholesale water supply assets				8,465,000	0
Buildings and improvements				748,000	45,418,000
Real Estate Investment Property, at Cost, Total				13,350,000	58,033,000
Less accumulated depreciation and amortization				194,000	17,158,000
Net nonutility properties and real estate investments				13,156,000	40,875,000
Impairment of long-lived asset				0	0	$ 2,211,000
Gain on sale of properties			$ 3,000,000
Sales agreement, holdback amount							$ 3,000,000
Lessor, Operating Lease, Payments, Fiscal Year Maturity [Abstract]
2024				4,758,000
2025				5,063,000
2026				5,290,000
2027				3,990,000
2028				1,679,000
Thereafter				0
Warehouse Building
Components of Real Estate Investments [Abstract]
Land				13,170,000
Buildings and improvements				44,950,000
Real Estate Investment Property, at Cost, Total				58,120,000
Less accumulated depreciation and amortization				17,270,000
Net nonutility properties and real estate investments				$ 40,850,000
Impairment of long-lived asset	$ 0
SJWC
Components of Real Estate Investments [Abstract]
Number of properties sold \| property		2
Proceeds from sale of real estate held-for-investment		$ 13,150,000
Gain on sale of properties					7,230,000
Properties selling expenses					277,000
Deferred gains on sales of properties					$ 5,442,000
Proceeds from sale of land held-for-investment		2,600,000
Gain on sale of real estate investments		927,000
Real estate selling expenses		$ 121,000
Building and Building Improvements \| Minimum
Components of Real Estate Investments [Abstract]
Estimated useful life				7 years
Building and Building Improvements \| Maximum
Components of Real Estate Investments [Abstract]
Estimated useful life				39 years

Financial Statement Schedule - Narrative (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Condensed Financial Information Disclosure [Abstract]
Restricted net assets, subsidiaries	$ 408,244
Restricted net assets, subsidiaries, percent of consolidated assets	33.00%

Income Taxes - Federal Statutory Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income before income taxes	$ 90,943	$ 82,324	$ 68,847
Income Tax Statutory Rate Reconciliation [Abstract]
Income tax at federal statutory rate	19,098	17,288	14,458
Increase (decrease) in taxes attributable to:
State taxes, net of federal income tax benefit	6,001	5,328	4,572
Uncertain tax positions	(4,330)	1,483	1,678
Property flow-through	(9,045)	(13,091)	(8,573)
Reversal of excess deferred taxes recognized in regulatory liability	(3,625)	(3,885)	(3,295)
Pension flow-through	(597)	27	429
Stock-based compensation	(491)	(297)	(331)
Other items, net	(1,055)	1,643	(569)
Income tax expense	$ 5,956	$ 8,496	$ 8,369

Equity Plans (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan

A summary of compensation costs charged to income and proceeds from share-based compensation, which are recorded to additional paid-in capital and common stock, by award type, are presented below for the years ended December 31:


	2023		2022	2021
Compensation costs charged to income:
ESPP	$	378	369	357
Restricted stock and deferred restricted stock	4,269		4,422	3,889
Total compensation costs charged to income	$	4,647	4,791	4,246
ESPP proceeds	$	2,141	2,091	2,026

Schedule of Restricted and Deferred Restricted Stock Awards

A summary of SJW Group’s outstanding restricted and deferred restricted stock awards under the Plan as of December 31, 2023, and changes during the year ended December 31, 2023, are presented below:


	Units	Weighted- Average Grant- Date Fair Value
Outstanding as of January 1, 2023	162,502	$	63.77
Granted	69,655	$	78.30
Issued	(66,977)	$	57.05
Forfeited	(14,476)	$	72.43
Outstanding as of December 31, 2023	150,704	$	72.64
Shares vested as of December 31, 2023	27,159	$	66.81

Schedule of Nonvested Restricted Stock Units Activity

A summary of the status of SJW Group’s nonvested restricted and deferred restricted stock awards under the plans as of December 31, 2023, and changes during the year ended December 31, 2023, are presented below:


	Units	Weighted- Average Grant- Date Fair Value
Nonvested as of January 1, 2023	125,459	$	66.71
Granted	69,655	$	78.30
Vested	(63,755)	$	64.62
Forfeited	(7,814)	$	72.98
Nonvested as of December 31, 2023	123,545	$	73.93

Capitalization (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended	25 Months Ended
	Mar. 08, 2021	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Nov. 17, 2021
Subsidiary, Sale of Stock [Line Items]
Common stock, shares authorized (in shares)		70,000,000	70,000,000	70,000,000
Common stock, par value (usd per share)	$ 0.001	$ 0.001	$ 0.001	$ 0.001
Common stock, shares issued (in shares)		32,023,004	32,023,004	30,801,912
Common stock, shares outstanding (in shares)		32,023,004	32,023,004	30,801,912
Preferred stock, shares authorized (in shares)		1,000,000	1,000,000	1,000,000
Preferred stock, par value (usd per share)		$ 0.001	$ 0.001	$ 0.001
Preferred stock, shares issued (in shares)		0	0	0
Preferred stock, shares outstanding (in shares)		0	0	0
Offering price per share (usd per share)	$ 59.00
At The Market Offering
Subsidiary, Sale of Stock [Line Items]
Common stock, par value (usd per share)					$ 0.001
Aggregate gross sales price (up to)					$ 240,000
Shares issued in offering (in shares)		1,119,806	2,004,657
Weighted average price per share (in usd per share)		$ 73.68	$ 73.57
Net proceeds from stock offering		$ 80,659	$ 143,998
Total equity distribution		$ 92,509	$ 92,509
Public Stock Offering
Subsidiary, Sale of Stock [Line Items]
Shares issued in offering (in shares)	1,030,000
Net proceeds from stock offering	$ 66,775
Over-Allotment Option
Subsidiary, Sale of Stock [Line Items]
Shares issued in offering (in shares)	154,500

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at Dec. 31, 2020		28,556,605
Beginning balance at Dec. 31, 2020	$ 917,160	$ 29	$ 510,158	$ 408,037	$ (1,064)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	60,478			60,478
Unrealized gain (loss) on investment, net of tax effect	185				185
Adjustment to pension benefit plans, net of taxes	716				716
Share-based compensation	4,128		4,246	(118)
Issuance of restricted and deferred stock units (in shares)		49,824
Issuance of restricted and deferred stock units	$ (1,066)		(1,066)
Employee stock purchase plan (in shares)	35,304	35,304
Employee stock purchase plan	$ 2,026		2,026
Common stock issuance, net of costs (in shares)		1,539,615
Common stock issuance, net of costs	91,029	$ 1	91,028
Dividends paid	(40,137)			(40,137)
Ending balance (in shares) at Dec. 31, 2021		30,181,348
Ending balance at Dec. 31, 2021	1,034,519	$ 30	606,392	428,260	(163)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	73,828			73,828
Unrealized gain (loss) on investment, net of tax effect	(511)				(511)
Adjustment to pension benefit plans, net of taxes	2,151				2,151
Share-based compensation	4,641		4,791	(150)
Issuance of restricted and deferred stock units (in shares)		54,243
Issuance of restricted and deferred stock units	$ (1,354)		(1,354)
Employee stock purchase plan (in shares)	36,585	36,585
Employee stock purchase plan	$ 2,091		2,091
Common stock issuance, net of costs (in shares)		529,736
Common stock issuance, net of costs	39,085	$ 1	39,084
Dividends paid	$ (43,582)			(43,582)
Ending balance (in shares) at Dec. 31, 2022	30,801,912	30,801,912
Ending balance at Dec. 31, 2022	$ 1,110,868	$ 31	651,004	458,356	1,477
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	84,987			84,987
Unrealized gain (loss) on investment, net of tax effect	530				530
Adjustment to pension benefit plans, net of taxes	(216)				(216)
Share-based compensation	4,592		4,647	(55)
Issuance of restricted and deferred stock units (in shares)		67,164
Issuance of restricted and deferred stock units	$ (2,259)		(2,259)
Employee stock purchase plan (in shares)	34,122	34,122
Employee stock purchase plan	$ 2,141		2,141
Common stock issuance, net of costs (in shares)		1,119,806
Common stock issuance, net of costs	80,659	$ 1	80,658
Dividends paid	$ (47,905)			(47,905)
Ending balance (in shares) at Dec. 31, 2023	32,023,004	32,023,004
Ending balance at Dec. 31, 2023	$ 1,233,397	$ 32	$ 736,191	$ 495,383	$ 1,791

Summary of Significant Accounting Policies - Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Revenue from contracts with customers	$ 678,168	$ 586,918	$ 559,568
Alternative revenue programs, net	3,634	(1,312)	5,304
Other balancing and memorandum accounts and regulatory mechanisms, net	(17,123)	29,487	3,435
Rental income	5,684	5,605	5,379
Operating revenue	670,363	620,698	573,686
Regulated operating revenue, water surcharge	$ 4,085	$ 6,121	$ 5,691

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Section S99
-Paragraph 1
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+ Details

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

+ Details

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net income	$ 84,987	$ 73,828	$ 60,478

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Unrealized gain (loss) on investment, tax expense (benefit)	$ 166	$ (188)	$ 68
Adjustment to pension benefit plans, tax expense (benefit)	$ 80	$ 793	$ 264
Common stock, dividends per share, paid (usd per share)	$ 1.52	$ 1.44	$ 1.36

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Allowance for uncollectible accounts	$ 6,551	$ 5,753
Capitalization:
Common stock, par value (usd per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	70,000,000	70,000,000
Common stock, shares issued (in shares)	32,023,004	30,801,912
Common stock, shares outstanding (in shares)	32,023,004	30,801,912

Financial Statement Schedule - Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating activities:
Net income (loss)	$ 84,987	$ 73,828	$ 60,478
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred income taxes	(8,510)	(3,244)	(2,851)
Stock-based compensation	4,647	4,791	4,246
Gain on sale of asset	0	(6,197)	(11,421)
Changes in operating assets and liabilities, net of acquired assets and liabilities:
Accounts payable and other current liabilities	492	(1,388)	4,843
Tax receivable and payable, and other accrued taxes	(22,415)	(11,954)	(6,416)
Other changes, net	218	(1,339)	(2,123)
Net cash provided by operating activities	190,831	166,199	130,040
Investing activities:
Proceeds from sale of assets	0	975	18,228
Net cash used in investing activities	(322,272)	(244,328)	(259,995)
Financing activities:
Borrowings from lines of credit	146,415	158,779	96,625
Repayments of long-term borrowings	(4,347)	(89,177)	(76,113)
Issuance of common stock, net of issuance costs	80,659	39,085	91,028
Dividends paid	(47,905)	(43,582)	(40,137)
Net cash provided by financing activities	128,820	78,354	132,805
Net change in cash, cash equivalents and restricted cash	(2,621)	225	2,850
Cash, cash equivalents and restricted cash, beginning of year	12,344	12,119	9,269
Cash, cash equivalents and restricted cash, end of year	9,723	12,344	12,119
Cash paid during the year for:
Interest	67,508	63,677	58,175
Income taxes	23,020	6,853	8,466
SJW Group
Adjustments to reconcile net income to net cash provided by operating activities:
Earnings from investment in subsidiaries	(95,808)	(88,510)	(73,663)
Deferred income taxes	718	(163)	(185)
Stock-based compensation	696	779	679
Gain on sale of asset	0	0	(3,000)
Changes in operating assets and liabilities, net of acquired assets and liabilities:
Accounts payable and other current liabilities	281	185	(226)
Intercompany receivables	(6,018)	(3,916)	(1,586)
Tax receivable and payable, and other accrued taxes	1,550	6,883	4,782
Accrued interest	47	(15)	28
Return on capital from investments in subsidiaries	50,550	55,950	45,900
Other changes, net	607	500	605
Net cash provided by operating activities	37,610	45,521	33,812
Investing activities:
Proceeds to subsidiaries for notes receivable	(148,392)	(27,713)	(75,986)
Repayments from subsidiaries for notes receivable	91,740	20,634	85,651
Investments in subsidiaries	(25,500)	(25,892)	(35,118)
Proceeds from sale of assets	0	0	3,000
Net cash used in investing activities	(82,152)	(32,971)	(22,453)
Financing activities:
Borrowings from subsidiaries for notes payable	700	15,355	34,317
Repayments to subsidiaries for notes payable	(3,140)	(20,901)	(44,145)
Borrowings from lines of credit	10,000	0	0
Repayments of long-term borrowings	0	0	(50,000)
Issuance of common stock, net of issuance costs	80,659	39,085	91,029
Debt issuance costs	(46)	(224)	0
Dividends paid	(47,905)	(43,582)	(40,137)
Net cash provided by financing activities	40,268	(10,267)	(8,936)
Net change in cash, cash equivalents and restricted cash	(4,274)	2,283	2,423
Cash, cash equivalents and restricted cash, beginning of year	5,142	2,859	436
Cash, cash equivalents and restricted cash, end of year	868	5,142	2,859
Cash paid during the year for:
Interest	17,465	17,512	18,518
Income taxes	(4,870)	(5,483)	(4,998)
Supplemental disclosure of non-cash activities:
Share-based compensation from investment in subsidiaries	$ 3,778	$ 4,656	$ 4,413

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Consolidation

The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of SJW Group, its wholly owned subsidiaries, and one variable interest entity in which one SJW Group subsidiary is the primary beneficiary. All intercompany transactions and balances have been eliminated in consolidation. The accounting policies of SJW Group’s subsidiaries comply with the applicable uniform system of accounts prescribed by the respective regulators and conform to generally accepted accounting principles for rate-regulated public utilities.

Use of Estimates

Depreciable Utility Plant and Equipment and Allowance For Funds Used During Construction ("AFUDC")

Depreciation is computed using the straight-line method over the estimated remaining service lives of groups of assets. The estimated service lives of depreciable plant and equipment are as follows:


			Useful Lives
Source of supply			20 to 100 years
Pumping plant			5 to 70 years
Water treatment plant			5 to 50 years
Transmission and distribution plant			10 to 100 years
General plant			4 to 61 years

Allowance For Funds Used During Construction (“AFUDC”)

Intangible Assets

Nonutility Properties and Real Estate Investments

Business Combinations and Asset Acquisitions

Impairment of Long-Lived Assets and Goodwill

Cash and Cash Equivalents

Accounts Receivable

Financial Instruments and Investments

Income Taxes

Advances for Construction and Contributions in Aid of Construction

Advances and contributions received subsequent to 1991 and prior to 1997 are included in state taxable income, except for CTWS.

Asset Retirement Obligations

Asset Retirement Obligation

Revenue

Revenue also includes a surcharge collected from regulated customers that is paid to the CPUC. This surcharge is recorded both in operating revenues and administrative and general expenses.

Share-Based Compensation

SJW Group utilizes the Monte Carlo valuation model, which requires the use of subjective assumptions, to compute the fair value of market-vesting restricted stock units.

Earnings Per Share

Earnings per Share

Reclassifications

Certain reclassifications have been made to prior periods in the Consolidated Financial Statements and Notes to conform to the current presentation.

New Accounting Standards

Consolidated Statement of Cash Flows - USD ($)	12 Months Ended
Consolidated Statement of Cash Flows - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating activities:
Net income	$ 84,987,000	$ 73,828,000	$ 60,478,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	108,138,000	106,439,000	96,474,000
Deferred income taxes	(8,510,000)	(3,244,000)	(2,851,000)
Stock-based compensation	4,647,000	4,791,000	4,246,000
Allowance for equity funds used during construction	(2,114,000)	(1,551,000)	(1,926,000)
Impairment of long-lived asset	0	0	2,211,000
Gain on sale of nonutility properties and other assets	0	(6,197,000)	(11,421,000)
Changes in operating assets and liabilities, net of acquired assets and liabilities:
Accounts receivable and accrued unbilled revenue	(10,869,000)	(8,222,000)	(5,931,000)
Accounts payable and other current liabilities	492,000	(1,388,000)	4,843,000
Accrued groundwater extraction charges, purchased water and power	4,772,000	2,507,000	(1,984,000)
Tax receivable and payable, and other accrued taxes	(22,415,000)	(11,954,000)	(6,416,000)
Postretirement benefits	(1,549,000)	(7,108,000)	(4,312,000)
Regulatory assets and liabilities excluding income tax temporary differences and postretirement benefits	12,278,000	1,714,000	(14,629,000)
Other noncurrent assets and liabilities	20,756,000	17,923,000	13,381,000
Other changes, net	218,000	(1,339,000)	(2,123,000)
Net cash provided by operating activities	190,831,000	166,199,000	130,040,000
Investing activities:
Company-funded	(271,772,000)	(218,784,000)	(233,933,000)
Contributions in aid of construction	(16,855,000)	(22,935,000)	(17,096,000)
Additions to nonutility assets and real estate investments	(24,244,000)	(631,000)	(826,000)
Payments for business acquisitions	(7,537,000)	(433,000)	(23,587,000)
Cost to retire utility plant, net of salvage	(2,097,000)	(2,520,000)	(2,781,000)
Proceeds from sale of assets	0	975,000	18,228,000
Other changes, net	233,000	0	0
Net cash used in investing activities	(322,272,000)	(244,328,000)	(259,995,000)
Financing activities:
Borrowings from lines of credit	146,415,000	158,779,000	96,625,000
Repayments of lines of credit	(134,493,000)	(62,197,000)	(208,722,000)
Long-term borrowings	70,000,000	55,000,000	247,000,000
Repayments of long-term borrowings	(4,347,000)	(89,177,000)	(76,113,000)
Dividends paid	(47,905,000)	(43,582,000)	(40,137,000)
Receipts of advances and contributions in aid of construction	22,425,000	23,820,000	26,438,000
Refunds of advances for construction	(2,763,000)	(2,859,000)	(2,852,000)
Issuance of common stock, net of issuance costs	80,659,000	39,085,000	91,028,000
Other changes, net	(1,171,000)	(515,000)	(462,000)
Net cash provided by financing activities	128,820,000	78,354,000	132,805,000
Net change in cash, cash equivalents and restricted cash	(2,621,000)	225,000	2,850,000
Cash, cash equivalents and restricted cash, beginning of year	12,344,000	12,119,000	9,269,000
Cash, cash equivalents and restricted cash, end of year	9,723,000	12,344,000	12,119,000
Less restricted cash, end of year	0	0	1,211,000
Cash and cash equivalents, end of year	9,723,000	12,344,000	10,908,000
Cash paid during the year for:
Interest	67,508,000	63,677,000	58,175,000
Income taxes	23,020,000	6,853,000	8,466,000
Supplemental disclosure of non-cash activities:
Accrued payables for additions to utility plant	35,904,000	22,561,000	20,579,000
Utility property installed by developers	3,341,000	2,433,000	2,659,000
Seller financing in asset acquisition, net of discount	$ 15,400,000	$ 0	$ 0

Benefit Plans - Narrative (Details) - USD ($)	12 Months Ended
Benefit Plans - Narrative (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Adjustment to pension benefit plans, net of taxes	$ 216,000	$ (2,151,000)	$ (716,000)
Value of life insurance contracts	3,937,000	3,420,000
Annual maximum contribution limit under Health Care Spending Account plan	3,100
Annual maximum contribution limit under Dependent Care Spending Account plan	5,000
Employer contributions to deferral plan	$ 3,902,000	3,003,000	2,822,000
Health care cost trend rate assumed, next fiscal year	8.00%
Ultimate health care cost trend rate	4.50%
Actuarial gain (loss), discount rate change	$ (1,188,000)	116,372,000
Actuarial gain (loss), data and other changes	(1,993,000)	(12,422,000)
Actuarial gain (loss), mortality change	(168,000)	4,000
Defined benefit plan, accumulated benefit obligation	270,209,000	259,838,000
Unrecognized pensions and other postretirement benefits
Defined Benefit Plan Disclosure [Line Items]
Regulatory liabilities	20,196,000	14,307,000
Other comprehensive income (loss), defined benefit plan, gain (loss) arising during period	20,196,000	14,307,000
Unrecognized pensions and other postretirement benefits
Defined Benefit Plan Disclosure [Line Items]
Regulatory assets	24,593,000	45,799,000
Other comprehensive income (loss), defined benefit plan, gain (loss) arising during period	(24,552,000)	(45,743,000)
Other comprehensive (income) loss, defined benefit plan, prior service cost (credit)	41,000	56,000
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	297,834,000	289,123,000	383,838,000
Net periodic pension cost	8,588,000	4,268,000	8,068,000
Total investments made to fund SERP	11,145,000	11,712,000
Executive Supplemental Retirement Plan
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	43,001,000	39,455,000
Net periodic pension cost	3,257,000	4,400,000	4,456,000
Adjustment to pension benefit plans, net of taxes	314,000	1,640,000	$ 901,000
Total investments made to fund SERP	$ 6,843,000	$ 6,395,000
Minimum
Defined Benefit Plan Disclosure [Line Items]
Period for performance standards	3 years
Minimum \| Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit cost, expected return on plan assets	6.00%	6.50%	6.50%
Maximum
Defined Benefit Plan Disclosure [Line Items]
Period for performance standards	5 years
Maximum \| Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit cost, expected return on plan assets	6.75%	6.75%	6.75%
CTWS Employees
Defined Benefit Plan Disclosure [Line Items]
Rate of compensation increase to company sponsored savings plan	1.50%
Executives and Non-employee Directors \| Deferred compensation arrangement with individual, by type of compensation, pension and other postretirement benefits
Defined Benefit Plan Disclosure [Line Items]
Deferrals by executives and non-employee directors	$ 8,148,000	$ 6,197,000
Executives and Non-employee Directors \| Deferred compensation arrangement with individual, by type of compensation, pension and other postretirement benefits \| Connecticut Water Company
Defined Benefit Plan Disclosure [Line Items]
Deferrals by executives and non-employee directors	$ 6,223,000	$ 4,508,000

Long-Term Debt

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Long-Term Debt

Long-term debt as of December 31 was as follows:


Description	Rate	Maturity	2023		2022

SJW Group Senior notes (a)	2.47% - 3.53%	2029 - 2039	560,000		560,000
SJWC:
Senior notes (a)	3.00% - 7.37%	2024 - 2053	470,000		400,000
California Pollution Control Financing Authority Revenue Bond	4.75%	2046	70,000		70,000
Total SJWC			540,000		470,000
CTWS bank term loans	4.09%, 4.15%	2027, 2037	16,457		18,444
CWC:
Connecticut Innovations Revenue Bonds, variable rate		2028 - 2029	22,050		22,050
Senior notes (a)	3.07% - 4.71%	2037 - 2052	195,000		195,000
Bank term loans	4.04% - 4.75%	2028 - 2036	96,295		96,295
Total CWC			313,345		313,345
TWC:
Senior note (a)	6.27%	2036	15,000		15,000
Bank term loans	4.01% - 5.54%	2041, 2052	45,000		45,000
Total TWC			60,000		60,000
TWR seller financing debt	5.61%	2053	29,000		—
MWC:
State revolving fund loans	0.00% - 2.23%	2023 - 2048	14,239		15,699
Other First Mortgage Bond	8.95%	2024	900		1,800
Bank term loans	3.89% - 5.51%	2024 - 2043	49,500		49,500
Total MWC			64,639		66,999
Total debt			1,583,441		1,488,788
Unamortized debt premium and discount, net			1,583		17,396

Unamortized debt issuance costs			(9,350)		(9,859)
Current portion			(48,975)		(4,360)
Total long-term debt, less current portion			$	1,526,699	1,491,965

___________________________________

(a)Senior notes held by institutional investors are unsecured obligations of SJW Group, SJWC, CWC, TWC and MWC and require interest-only payments until maturity. To minimize issuance costs, the companies’ debt has primarily been placed privately.

The following is a table of the consolidated company’s schedule of principal payments:


Year
2024			48,975
2025			3,648
2026			23,740
2027			2,995
2028			44,486
Thereafter			1,459,597

The estimated fair value of long-term debt as of December 31, 2023 and 2022 was $1,394,412 and $1,294,354, respectively, and was determined using a discounted cash flow analysis, based on the current rates for similar financial instruments of the same duration and creditworthiness of the company. Of the total fair value of long-term debt, $1,378,683 would be categorized as Level 2 in the fair value hierarchy and $15,729 would be categorized as Level 3 in the fair value hierarchy.

SJWC

On July 14, 2022, SJWC entered into a note purchase agreement with certain affiliates of New York Life Insurance, Metropolitan Life Insurance, Northwestern Mutual Life Insurance, and John Hancock Life Insurance (collectively the “Purchasers”), pursuant to which the company sold an aggregate principal amount of $70,000 of its 4.85% Senior Notes, Series P (“Series P Notes”) to the Purchasers. The Series P Notes are unsecured obligations of SJWC and are due on February 1, 2053. Interest is payable semi-annually in arrears on February 1st and August 1st of each year. The note purchase agreement contains customary affirmative and negative covenants for as long as the Series P Notes are outstanding. The Series P Notes are also subject to customary events of default. The closing of the note purchase agreement occurred on January 25, 2023.

CWC

On June 28, 2022, CWC entered into a note purchase agreement with certain affiliates of New York Life Insurance Company, pursuant to which CWC sold an aggregate principal amount of $25,000 of its 4.71% Senior Notes, Series 2022, due 2052. The closing of the note purchase agreement occurred on December 14, 2022. The Series 2022 Notes are unsecured obligations of CWC. Interest is payable semi-annually in arrears on June 15th and December 15th of each year.

On November 15, 2023, CWC entered into a note purchase agreement with certain affiliates of American United Life Insurance, The State Life Insurance, Mutual of Omaha Insurance, and United of Omaha Life Insurance, pursuant to which the company sold an aggregate principal amount of $25,000 of its 6.46% Senior Notes, Series 2023 (“Series 2023 Notes”). The Series 2023 Notes are unsecured obligations of CWC and are due on January 1, 2054. Interest is payable semi-annually in arrears on January 15th and July 15th of each year. The closing of the notes purchase agreement occurred on January 22, 2024.

TWC

On October 31, 2022, TWC entered into a credit with a commercial bank, pursuant to an existing master loan agreement under which the commercial bank issued TWC a promissory note on the same date with an aggregate principal amount of $15,000 at a fixed interest rate of 5.54% due on May 30, 2052. The notes are unsecured obligations of TWC. Interest is payable quarterly in arrears on the 20th day of January, April, July and October of each year.

TWR

In August 2023, TWR closed on an asset acquisition that included an obligation for a post-closing production payment of $29,000 to the seller over a period of up to 29 years. The repayment schedule is based on the quantity of groundwater produced from the acquired wells, subject to certain provisions in the purchase agreement. The difference between the gross obligation of $29,000 and the fair value at the date of acquisition is reflected as a debt discount and is being amortized as interest expense using the effective interest method over the life of the obligation.

MWC

On April 6, 2022, MWC entered into a credit agreement with a commercial bank, pursuant to an existing master loan agreement under which the commercial bank issued MWC a promissory note on the same date with an aggregate principal amount of $15,000 at a fixed interest rate of 4.54%, due May 31, 2042. The notes are unsecured obligations of MWC. Interest is payable quarterly in arrears on the 20th day of January, April, July and October of each year. Proceeds from the borrowing were received on May 13, 2022.

Financial Covenants

The debt and credit agreements of SJW Group and its subsidiaries contain various financial and other covenants. Non-compliance with these covenants could result in accelerated due dates and termination of the agreements. In addition, the credit agreements contain customary representations and warranties and subject to customary events of default, which may result in outstanding notes becoming immediately due and payable. As of December 31, 2023, SJW Group and its subsidiaries were in compliance with all covenants related to its long-term debt agreements.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Schedule of Property, Plant and Equipment

The major components of depreciable plant and equipment as of December 31, 2023 and 2022 are as follows:


	2023		2022
Source of supply	$	207,537	191,082
Pumping plant	284,308		269,246
Water treatment plant	354,617		327,492
Transmission and distribution plant	2,820,358		2,615,640
General plant	301,091		257,825
Total depreciable plant and equipment	$	3,967,911	3,661,285

Depreciation is computed using the straight-line method over the estimated remaining service lives of groups of assets. The estimated service lives of depreciable plant and equipment are as follows:


			Useful Lives
Source of supply			20 to 100 years
Pumping plant			5 to 70 years
Water treatment plant			5 to 50 years
Transmission and distribution plant			10 to 100 years
General plant			4 to 61 years

Schedule of Real Estate Investments

The major components of nonutility properties and real estate investments are as follows as of December 31:


	2023		2022
Land	$	4,137	12,615
Wholesale water supply assets	8,465		—
Buildings and improvements	748		45,418

Subtotal	13,350		58,033
Less: accumulated depreciation and amortization	194		17,158
Total	$	13,156	40,875

The following represents the major components of the Tennessee warehouse building and land property recorded in assets held-for-sale on the Consolidated Balance Sheets as of December 31, 2023:


	2023
Land	$	13,170
Buildings and improvements	44,950

Subtotal	58,120
Less: accumulated depreciation and amortization	17,270
Total	$	40,850

Schedule of Future Minimum Rental Payments to be Received


Year ending December 31:	Rental Revenue
2024	$	4,758
2025	5,063
2026	5,290
2027	3,990
2028	1,679
Thereafter	—

Schedule of Estimated Refunds of Advances for Construction and Contributions in Aid of Construction

Estimated refunds for the next five years and thereafter are shown below:


	Estimated Refunds
2024	$	3,034
2025	2,970
2026	2,878
2027	2,793
2028	2,726
Thereafter	46,574

Schedule of Asset Retirement Obligations

As of December 31, 2023 and 2022, the asset retirement obligation is as follows:


	2023			2022
Estimated future retirement costs	$	4,198		4,426
Discount rate	6		%	6	%


Retirement obligation, present value	$	862		920

Schedule of Disaggregation of Revenue

Detail of SJW Group’s revenue is as follows for the years ended December 31:


	2023		2022	2021
Revenue from contracts with customers	$	678,168	586,918	559,568
Alternative revenue programs, net	3,634		(1,312)	5,304
Other balancing and memorandum accounts and regulatory mechanisms, net	(17,123)		29,487	3,435
Rental income	5,684		5,605	5,379
	$	670,363	620,698	573,686

Segment and Non-Tariffed Businesses Reporting - Narrative (Details)	12 Months Ended
	Dec. 31, 2023 subsidiary
Segment Reporting [Abstract]
Number of subsidiaries	4

Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Schedule of Allocation of Plan Assets

The following tables summarize the fair values of the Rabbi Trust investment assets to fund CWC’s SERP by major categories as of December 31, 2023 and 2022:


			Fair Value Measurements at December 31, 2023
Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
Money market funds	$	71	71	—	—
Mutual funds	2,053		2,053	—	—
Fixed income	709		709	—	—
Total	$	2,833	2,833	—	—


			Fair Value Measurements at December 31, 2022
Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
Money market funds	$	49	49	—	—
Mutual funds	2,032		2,032	—	—
Fixed income	728		728	—	—
Total	$	2,809	2,809	—	—

Plan assets as of December 31 were as follows:


	Pension Benefits					Other Postretirement Benefits
	2023			2022		2023			2022
Fair value of assets at end of year:
Debt securities	$	101,498		90,914		$	5,596		5,330
	36		%	36	%	26		%	30	%
Equity securities	174,155			147,864		14,424			11,711
	61		%	59	%	68		%	65	%
Cash and equivalents	9,851			13,182		1,187			911
	3		%	5	%	6		%	5	%
Total	$	285,504		251,960		$	21,207		17,952

The following tables summarize the fair values of plan assets by major categories as of December 31, 2023 and 2022:


			Fair Value Measurements at December 31, 2023
Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
Cash and cash equivalents	$	11,038	11,038	—	—
Equity securities (a)	188,579		188,579	—	—
Fixed Income (b)	107,094		39,048	68,046	—
Total	$	306,711	238,665	68,046	—

___________________________________

(a)Actively managed portfolio of equity securities with the goal to exceed the benchmark performance.

(b)Actively managed portfolio of fixed income securities with the goal to exceed the benchmark performance


			Fair Value Measurements at December 31, 2022
Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
Cash and cash equivalents	$	14,093	14,093	—	—
Equity securities	159,575		159,575	—	—
Fixed Income	96,244		30,863	65,381	—
Total	$	269,912	204,531	65,381	—

Schedule of Assumptions Used

Net periodic cost for the defined benefit plans and other postretirement benefits was calculated using the following assumptions:


	Pension Benefits			Other Postretirement Benefits
	2023	2022	2021	2023	2022	2021
	%	%	%	%	%	%
Discount rate	4.95 - 5.24	2.65 - 2.82	2.29 - 2.48	4.96 - 5.21	2.61 - 2.76	2.18 - 2.41
Expected return on plan assets	6.00, 6.75	6.50, 6.75	6.50, 6.75	4.20, 6.00	4.20, 6.00	4.20, 6.50
Rate of compensation increase	4.50, 5.00	4.00, 4.50	4.00	N/A	N/A	N/A

Benefit obligations for the defined benefit plans and other postretirement benefits were calculated using the following weighted-average assumptions as of December 31:


	Pension Benefits		Other Postretirement Benefits
	2023	2022	2023	2022
	%	%	%	%
Discount rate	4.99 - 5.03	4.95 - 5.24	4.95 - 5.01	4.96 - 5.21
Rate of compensation increase	4.50, 5.00	4.50 - 5.00	N/A	N/A

Schedule of Net Benefit Costs

Net periodic costs for the defined benefit plans and other postretirement benefits for the years ended December 31 was as follows:


	Pension Benefits				Other Postretirement Benefits
	2023		2022	2021	2023		2022	2021
Components of net periodic benefit cost
Service cost	$	7,569	9,359	9,730	$	638	1,032	1,115
Interest cost	14,234		10,708	9,415	1,268		883	806
Expected return on assets	(15,440)		(18,841)	(18,019)	(860)		(1,047)	(970)

Amortization of prior service cost	15		17	41	—		—	—
Amortization of actuarial loss (gain)	2,210		4,620	6,901	(350)		(115)	257
Recognition of significant event	—		(1,595)	—	—		—	—
Net periodic benefit cost	$	8,588	4,268	8,068	$	696	753	1,208

Schedule of Net Funded Status

The projected benefit obligations and the funded status of the defined benefit pension and other postretirement plans as of December 31 were as follows:


	Pension Benefits			Other Postretirement Benefits
	2023		2022	2023		2022
Change in benefit obligation
Benefit obligation at beginning of year	$	289,123	383,838	$	25,830	34,412
Service cost	7,569		9,359	638		1,032
Interest cost	14,234		10,708	1,268		883


Actuarial loss/(gain)	5,794		(94,793)	(2,645)		(9,360)
Implicit rate subsidy	—		—	(237)		(236)
Plan participants contributions	—		—	179		207
Administrative expenses paid	(137)		(136)	—		—
Benefits paid and settlements	(18,749)		(19,853)	(769)		(1,108)
Benefit obligation at end of year	$	297,834	289,123	$	24,264	25,830
Change in plan assets
Fair value of assets at beginning of year	$	251,960	310,176	$	17,952	21,767
Actual return on plan assets	41,285		(49,939)	3,136		(3,606)

Employer contributions	11,145		11,712	920		626
Plan participants contributions	—		—	179		207
Administrative expenses paid	(137)		(136)	(67)		(65)
Benefits paid and settlements	(18,749)		(19,853)	(913)		(977)
Fair value of plan assets at end of year	285,504		251,960	21,207		17,952
Funded status at end of year	$	(12,330)	(37,163)	$	(3,057)	(7,878)

Schedule of Amounts Recognized in Balance Sheet

The amounts recognized on the balance sheet as of December 31 were as follows:


	Pension Benefits			Other Postretirement Benefits
	2023		2022	2023		2022
Noncurrent assets	$	30,671	16,005	$	3,123	679
Current liabilities	(2,365)		(2,089)	(113)		(139)
Noncurrent liabilities	(40,636)		(51,079)	(6,067)		(8,418)
	$	(12,330)	(37,163)	$	(3,057)	(7,878)

Schedule of Accumulated and Projected Benefit Obligations

The following table provides selected information about plans with projected benefit obligation and accumulated benefit obligation in excess of plan assets as of December 31:


	2023		2022
Pension Benefits:
Plans with projected benefit obligation in excess of plan assets:
Projected benefit obligation	$	43,001	217,358
Fair value of plan assets	—		169,077
Plans with accumulated benefit obligation in excess of plan assets:
Accumulated benefit obligation	39,652		35,813
Fair value of plan assets	—		—
Other Postretirement Benefits:
Plans with accumulated benefit obligation in excess of plan assets:
Accumulated benefit obligation	15,580		16,411
Fair value of plan assets	9,401		7,853

Schedule of Expected Benefit Payments

Benefits expected to be paid in the next five years and in the aggregate for the five years thereafter are:


	Pension Plans		Other Postretirement Benefit Plans
2024	$	16,727	$	1,461
2025	17,455		1,549
2026	22,753		1,619
2027	18,977		1,691
2028	19,121		1,647
2029 - 2033	104,931		8,580

Financial Statement Schedule - Condensed Balance Sheets (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Mar. 08, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 9,723	$ 12,344	$ 12,119		$ 9,269
Other current assets	6,146	6,095
Total current assets	198,389	158,386
Other assets:
Other	8,056	7,323
Total other assets	962,868	925,478
Total assets	4,345,067	3,755,056
Stockholders’ equity:
Common stock, $0.001 par value; authorized 70,000,000 shares in 2023 and 2022; issued and outstanding 32,023,004 shares in 2023 and 30,801,912 shares in 2022	32	31
Additional paid-in capital	736,191	651,004
Retained earnings	495,383	458,356
Accumulated other comprehensive income	1,791	1,477
Total stockholders’ equity	1,233,397	1,110,868	1,034,519		917,160
Long-term debt, less current portion	1,526,699	1,491,965
Total capitalization	2,760,096	2,602,833
Current liabilities:
Lines of credit	171,500	159,578
Accrued interest	15,816	13,907
Other current liabilities	20,795	22,913
Total current liabilities	342,974	268,322
Deferred income taxes	238,528	218,155
Other noncurrent liabilities	22,492	25,884
Total equity and liabilities	$ 4,345,067	$ 3,755,056
Common stock, par value (usd per share)	$ 0.001	$ 0.001		$ 0.001
Common stock, shares authorized (in shares)	70,000,000	70,000,000
Common stock, shares issued (in shares)	32,023,004	30,801,912
Common stock, shares outstanding (in shares)	32,023,004	30,801,912
SJW Group
Assets
Investments in subsidiaries	$ 1,753,250	$ 1,675,545
Current assets:
Cash and cash equivalents	868	5,142	$ 2,859		$ 436
Intercompany receivables	2,239	0
Intercompany notes receivable	69,746	13,094
Other current assets	243	193
Total current assets	73,096	18,429
Other assets:
Other	193	183
Total other assets	193	183
Total assets	1,826,539	1,694,157
Stockholders’ equity:
Common stock, $0.001 par value; authorized 70,000,000 shares in 2023 and 2022; issued and outstanding 32,023,004 shares in 2023 and 30,801,912 shares in 2022	32	31
Additional paid-in capital	736,191	651,004
Retained earnings	495,383	458,356
Accumulated other comprehensive income	1,791	1,477
Total stockholders’ equity	1,233,397	1,110,868
Long-term debt, less current portion	557,028	556,627
Total capitalization	1,790,425	1,667,495
Current liabilities:
Lines of credit	10,000	0
Intercompany payables	0	789
Intercompany notes payable	1,726	4,166
Accrued interest	3,255	3,208
Income tax payable	16,427	14,736
Other current liabilities	629	398
Total current liabilities	32,037	23,297
Deferred income taxes	3,099	2,373
Other noncurrent liabilities	978	992
Total equity and liabilities	$ 1,826,539	$ 1,694,157

Commitments	12 Months Ended
Commitments	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments	Commitments SJWC purchases water from Valley Water under terms of a master contract expiring in 2051. Delivery schedules for purchased water are based on a contract year beginning July 1, and are negotiated every three years under terms of the master contract with Valley Water. For the years ended December 31, 2023, 2022 and 2021, SJWC purchased from Valley Water 18.3 billion gallons ($111,173), 18.2 billion gallons ($96,793) and 19.4 billion gallons ($91,938), respectively, of contract water. On June 16, 2022, the Valley Water Board of Directors approved treated water deliveries reflecting the contractual delivery schedule reduced by 23% through June 30, 2024. Based on current prices and estimated deliveries, SJWC is committed to purchase from Valley Water a minimum of 90% of the reduced delivery schedule, or 18.9 billion gallons ($121,182) of water at the current contract water rate of $6.411 million per billion gallons for the year ending December 31, 2024. Additionally, SJWC purchases non-contract water from Valley Water on an “as needed” basis if the water supply is available. In 1997, SJWC entered into a 25-year contract agreement, as amended, with the City of Cupertino to operate the City’s municipal water system. SJWC paid a one-time, upfront concession fee of $6,800 to the City of Cupertino and an incremental up-front payment of $5,000 to be used by the City of Cupertino for capital improvements. On February 25, 2022, SJWC received a letter from the City of Cupertino exercising their option to extend the term of the lease an additional two years through October, 1, 2024. SJWC paid an additional $1,600 concession fee for the extension period. The total fees paid for the agreement is being amortized over the contract term including the extension period. CWC is able, but under no obligation, to purchase up to one million gallons of water per day, from the South Central Connecticut Regional Water Authority (“RWA”), at the then current wholesale rates per the agreement, $3.1 million per billion gallons as of December 31, 2023. CWC has an agreement with The Metropolitan District (“MDC”) to purchase water from MDC to serve the Unionville system. The agreement became effective on October 6, 2000 and has a term of fifty years beginning May 19, 2003, the date the water supply facilities related to the agreement were placed in service. CWC agrees to purchase 0.28 billion gallons of water annually from MDC. The rate charged by the MDC at December 31, 2023 was three dollars and eighty cents per hundred cubic feet. TWC has long-term contracts with the GBRA. The terms of the agreements expire in 2037, 2040, 2044 and 2050, respectively. The agreements, which are take-or-pay contracts, provide TWC with 7,650 acre-feet per year of water supply from Canyon Lake. The water rate may be adjusted by GBRA at any time, provided they give TWC a 60-day written notice on the proposed adjustment. TWC also has raw water supply agreements with the Lower Colorado River Authority and West Travis Public Utility Agency expiring in 2059 and 2046, respectively, to provide for 350 acre-feet of water per year from Lake Austin and the Colorado River, respectively, at prices that may be adjusted periodically by the agencies. MWC has an agreement with the Kennebec Water District for potable water service. The agreement has been in place for 20 years and was extended on November 7, 2020 for a new term of up to 20 years. MWC guarantees a minimum consumption of 0.05 billion gallons of water annually. Water sales to MWC are billed at a wholesale discount of twenty cents per hundred cubic feet of water below Kennebec Water District's tariffed rates. The current tariff rate was one dollar and fifty-one cents per hundred cubic feet as of December 31, 2023. As of December 31, 2023, SJWC had 387 employees, of whom 240 were members of unions. In the first quarter of 2023, SJWC executed three-year bargaining agreements with the International Union of Operating Engineers (“OE”), representing certain employees in the engineering department, and the Utility Workers of America (“UWUA”), representing the majority of all nonadministrative employees at SJWC covering the period from January 1, 2023 through December 31, 2025. The agreements include a 6% wage increase provided in 2023, 3.5% in 2024 and 5.5% in 2025 for union employees.

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Benefit Plans - Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 7,569	$ 9,359	$ 9,730
Interest cost	14,234	10,708	9,415
Expected return on assets	(15,440)	(18,841)	(18,019)
Amortization of prior service cost	15	17	41
Amortization of actuarial loss (gain)	2,210	4,620	6,901
Recognition of significant event	0	(1,595)	0
Net periodic benefit cost	8,588	4,268	8,068
Other Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	638	1,032	1,115
Interest cost	1,268	883	806
Expected return on assets	(860)	(1,047)	(970)
Amortization of prior service cost	0	0	0
Amortization of actuarial loss (gain)	(350)	(115)	257
Recognition of significant event	0	0	0
Net periodic benefit cost	$ 696	$ 753	$ 1,208

Acquisitions	12 Months Ended
Acquisitions	Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions KT Water On January 13, 2023, TWC reached an agreement to acquire KT Water Development Ltd. (“KT Water Development”) and SJWTX Holdings, Inc. reached an agreement to acquire KT Water Resources L.P. (“KT Water Resources”). The agreement between SJWTX Holdings, Inc. and KT Water Resources, LP, was assigned to TWR prior to closing. KT Water Development was an investor-owned water utility providing water to approximately 1,725 people through over 570 service connections in the Rockwall Ranch subdivision in southern Comal County, Texas. KT Water Resources was a wholesale groundwater resource supplier to KT Water Development formed to develop wholesale water supplies for the fast-growing utilities of Comal County, Texas. The Public Utility Commission of Texas (“PUCT”) approved the proposed KT Water Development acquisition on July 24, 2023. The acquisition of KT Water Resources did not require PUCT approval. Both transactions closed on August 14, 2023. Further information regarding each of the acquisitions is set forth below. KT Water Development The purchase price of KT Water Development was $7,338, all of which was cash, and was determined in accordance with a fair market value process defined under the Texas Water Code. The transaction was accounted for as a business combination in accordance with ASC Topic 805. Based on the preliminary purchase price allocation, the transaction consideration was allocated to utility plant. The final allocation will be completed within one year from the acquisition date. Transaction costs were not material. The results of KT Water Development are included in SJW Group’s consolidated statements of comprehensive income since the acquisition date and were not material. Pro forma financial information has not been presented because the acquisition was not material to SJW Group’s consolidated financial statements. KT Water Resources The total purchase price of KT Water Resources of $39,891 consisted of a $24,491 up-front cash payment and an obligation for a post-closing production payment with an acquisition date fair value of $15,400. Considering transaction costs of $170, the total cost of the acquisition was $40,061. The KT Water Resources acquisition was accounted for as an asset acquisition in accordance with ASC Topic 805. The total cost was allocated as follows based on the fair values of the assets acquired: $28,386 to other intangible asset, $11,684 to nonutility property, and $9 to other current liabilities. The other intangible asset represents indefinite-life water rights. The nonutility property consists of wells, land, easements, and construction work in progress. The post-closing production payment represents an obligation to pay a total amount of $29,000 to the seller over a period up to 29 years. The repayment schedule is based on the quantity of groundwater produced from the acquired wells, subject to certain provisions in the purchase agreement. The fair value of the post-closing payment as of the acquisition date was determined by discounting forecasted repayments based on management’s estimates of future groundwater production. The difference between the fair value of $15,400 and the gross obligation of $29,000 was recorded as a debt discount and is being amortized as interest expense using the effective interest method over the life of the obligation. The post-closing production payment obligation is classified as long-term debt in the Consolidated Balance Sheets. Kendall West Utility and Bandera East Utility On December 17, 2021, TWC completed its acquisition of Kendall West Utility and Bandera East Utility, companies that provide water services, including wastewater and recycled water services, in Kendall, Bandera and Medina counties which are located in south central Texas. Kendall West Utility and Bandera East Utility, together, added approximately 5,000 people through 1,600 service connections in a service area approximately 19 square miles to TWC’s operations. The total net cash price was $23,587. The preliminary purchase price allocation for these acquisitions primarily consisted of acquired utility plant of approximately $9,400 and goodwill of approximately $12,300. The results of Kendall West Utility and Bandera East Utility are included in SJW Group’s Consolidated Statements of Comprehensive Income since the acquisition date, including revenues and net loss, and were not material. During the measurement period in 2022, TWC reduced goodwill previously recognized by $161 primarily related to additional regulatory assets recognized. The final purchase price allocation resulted in goodwill of $12,167 for the transaction. Pro forma financial information has not been presented because the acquisition was not material to SJW Group’s consolidated financial statements.

Equity Plans - Restricted Stock and Deferred Restricted Stock Activity (Details) - Restricted stock and deferred restricted stock - Incentive Plan	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Restricted and Deferred Restricted Stock Awards Activity
Outstanding, beginning balance (in shares) \| shares	162,502
Granted (in shares) \| shares	69,655
Issued (in shares) \| shares	(66,977)
Forfeited (in shares) \| shares	(14,476)
Outstanding ending balance (in shares) \| shares	150,704
Vested (in shares) \| shares	27,159
Weighted- Average Grant- Date Fair Value
Outstanding, beginning balance (in dollars per share) \| $ / shares	$ 63.77
Granted (in dollars per share) \| $ / shares	78.30
Issued (in dollars per share) \| $ / shares	57.05
Forfeited (in dollars per share) \| $ / shares	72.43
Outstanding, ending balance (in dollars per share) \| $ / shares	72.64
Vested (in dollars per share) \| $ / shares	$ 66.81
Nonvested Restricted and Deferred Restricted Stock Awards Activity
Nonvested, beginning balance (in shares) \| shares	125,459
Granted (in shares) \| shares	69,655
Vested (in shares) \| shares	(63,755)
Forfeited (in shares) \| shares	(7,814)
Nonvested, ending balance (in shares) \| shares	123,545
Weighted- Average Grant- Date Fair Value
Nonvested, beginning balance (in dollars per share) \| $ / shares	$ 66.71
Granted (in dollars per share) \| $ / shares	78.30
Vested (in dollars per share) \| $ / shares	64.62
Forfeited (in dollars per share) \| $ / shares	72.98
Nonvested, ending balance (in dollars per share) \| $ / shares	$ 73.93

Income Taxes

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Income Taxes

The components of income tax expense were:


	2023		2022	2021
Current:
Federal	$	10,185	8,570	8,587
State	4,281		3,170	2,633
Deferred:
Federal	(8,871)		(3,223)	(3,811)
State	361		(21)	960
	$	5,956	8,496	8,369

The following table reconciles income tax expense to the amount computed by applying the federal statutory rate to income before income taxes of $90,943, $82,324 and $68,847 in 2023, 2022 and 2021, respectively:


	2023		2022	2021
Income tax at federal statutory rate	$	19,098	17,288	14,458
Increase (decrease) in taxes attributable to:
State taxes, net of federal income tax benefit	6,001		5,328	4,572

Uncertain tax positions	(4,330)		1,483	1,678
Property flow-through	(9,045)		(13,091)	(8,573)


Reversal of excess deferred taxes recognized in regulatory liability	(3,625)		(3,885)	(3,295)
Pension flow-through	(597)		27	429
Stock-based compensation	(491)		(297)	(331)

Other items, net	(1,055)		1,643	(569)
	$	5,956	8,496	8,369

The components of the net deferred tax liability as of December 31 was as follows:


	2023		2022
Deferred tax assets:
Advances and contributions	$	25,714	25,462
Unamortized investment tax credit	517		575
Pensions, postretirement benefits and stock-based compensation	17,844		23,161
Debt premium, net	4,157		4,868
California franchise tax	713		640

Deferred revenue	841		1,444
Tax related regulatory liability	24,358		25,750
Other	7,077		6,627


Total deferred tax assets	81,221		88,527
Deferred tax liabilities:
Utility plant	243,786		229,500
Pension and postretirement	13,247		17,709

Deferred gain and other-property	6,456		5,982
Regulatory asset - business combinations debt premium, net	4,157		4,868
Intangibles	2,693		2,943

Tax related regulatory asset	44,155		38,599

Section 481(a) adjustments	—		1,573
Other	5,255		5,508
Total deferred tax liabilities	319,749		306,682
Net deferred tax liabilities	$	238,528	218,155

Management evaluates the realizability of deferred tax assets based on all available evidence, both positive and negative. The realization of deferred tax assets is dependent on our ability to generate sufficient future taxable income during periods in which the deferred tax assets are expected to reverse. Based on all available evidence, management believes it is more likely than not that SJW Group will realize the benefits of its deferred tax assets. Net operating loss carryforwards expire beginning in 2032 and ending in 2039. As of December 31, 2023, the estimated amount of net operating loss carryforwards available to offset future taxable income for Connecticut purposes is $18,369. The estimated state tax credit carryforwards are $707 which will expire beginning in 2024 and ending in 2040.

The change in the net deferred tax liabilities of $20,373 in 2023 included other non-cash items primarily consisting of regulatory assets and liabilities relating to income tax temporary differences.

The total amount of unrecognized tax benefits, before the impact of deductions for state taxes, excluding interest and penalties was $4,511 and $9,004 as of December 31, 2023 and 2022, respectively. The amount of tax benefits, net of any federal benefits for state taxes that would impact the effective rate, if recognized, is approximately $4,048 and $8,262 as of December 31, 2023 and 2022, respectively.

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:


	2023		2022	2021
Balance at beginning of year	$	9,004	7,961	6,468
Increase related to tax positions taken during the current year	231		1,549	1,376
Increase related to tax positions taken during a prior year	364		—	117
Reductions related to statute expiration	(1,191)		(284)	—
Reductions related to tax positions taken in a prior year	(3,897)		(222)	—

Balance at end of year	$	4,511	9,004	7,961

The decrease in gross unrecognized tax benefits in 2023 was primarily due to the release of an uncertain tax position reserve relating to repairs tax deductions. In April 2023, the IRS issued additional tax guidance that has allowed the company to revisit

certain historical income tax reserves. Pursuant to the issuance of this guidance, which provided additional clarification regarding some of the uncertain tax areas, the company re-evaluated the risk relating to repair deductions. The result of the analysis led to a release of an uncertain tax position reserve. The release relates to repairs expenditures which are more likely than not to be sustained on audit. The release due to re-evaluation of the reserve was $3,125.

SJW Group’s policy is to classify interest and penalties associated with unrecognized tax benefits, if any, in tax expense. Accrued interest expense, net of the benefit of tax deductions which would be available on the payment of such interest, is approximately $455 as of December 31, 2023. SJW Group has not accrued any penalties for unrecognized tax benefits. The amount of interest recognized in 2023 was a decrease to expense of $151.

SJW Group currently does not expect uncertain tax positions to change significantly over the next 12 months, except in the case of lapse of the statute of limitations.

SJW Group files U.S. federal income tax returns and income tax returns in various states and is subject to ordinary statute of limitation of three years for federal and three or four years for different state returns. However, due to tax attribute carryforwards, SJW Group is subject to examination for tax years 2012 forward for federal and state returns of CTWS and its subsidiaries. The statute of limitation for SJW Group returns is closed for these extended years and remains open for 2020 and forward for federal and 2019 or 2020 and forward for different states.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Summary of Significant Accounting Policies - Impairments of Long-Lived Assets and Goodwill (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Impairment of long-lived asset	$ 0	$ 0	$ 2,211,000
Goodwill, impairment loss	$ 0	$ 0	$ 0

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Unrealized gain (loss) on investment, tax expense (benefit)	$ 166	$ (188)	$ 68
Adjustment to pension benefit plans, tax expense (benefit)	$ 80	$ 793	$ 264

Consolidated Statements of Comprehensive Income - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Operating revenue	$ 670,363,000	$ 620,698,000	$ 573,686,000
Production Expenses:
Purchased water	135,982,000	122,334,000	98,231,000
Power	9,602,000	8,889,000	13,511,000
Groundwater extraction charges	62,980,000	56,158,000	75,866,000
Other production expenses	47,636,000	45,409,000	41,475,000
Total production expenses	256,200,000	232,790,000	229,083,000
Administrative and general	98,656,000	95,404,000	87,332,000
Maintenance	25,729,000	30,734,000	26,031,000
Property taxes and other non-income taxes	34,475,000	32,572,000	30,964,000
Depreciation and amortization	105,868,000	104,417,000	94,400,000
Gain on sale of nonutility properties	0	(6,197,000)	(7,494,000)
Impairment of long-lived asset	0	0	2,211,000
Total operating expense	520,928,000	489,720,000	462,527,000
Operating income	149,435,000	130,978,000	111,159,000
Other (expense) income:
Interest on long-term debt and other interest expense	(66,144,000)	(58,062,000)	(54,339,000)
Pension non-service (cost) credit	(1,230,000)	5,023,000	1,330,000
Other, net	8,882,000	4,385,000	10,697,000
Income before income taxes	90,943,000	82,324,000	68,847,000
Provision for income taxes	5,956,000	8,496,000	8,369,000
Net income	84,987,000	73,828,000	60,478,000
Other comprehensive income:
Unrealized gain (loss) on investment, net of taxes of $166 in 2023, $(188) in 2022 and $68 in 2021	530,000	(511,000)	185,000
Adjustment to pension benefit plans, net of taxes of $80 in 2023, $793 in 2022 and $264 in 2021	(216,000)	2,151,000	716,000
Comprehensive income	$ 85,301,000	$ 75,468,000	$ 61,379,000
Earnings per share
—Basic (in dollars per share)	$ 2.69	$ 2.44	$ 2.04
—Diluted (in dollars per share)	$ 2.68	$ 2.43	$ 2.03
Weighted average shares outstanding
—Basic (shares)	31,575,197	30,304,557	29,601,284
—Diluted (shares)	31,663,274	30,423,735	29,735,533

Long-Term Debt - Schedule of Maturities of Long-term Debt (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Debt Disclosure [Abstract]
2024	$ 48,975
2025	3,648
2026	23,740
2027	2,995
2028	44,486
Thereafter	$ 1,459,597

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Utility plant:
Land	$ 41,415	$ 39,982
Depreciable plant and equipment	3,967,911	3,661,285
Construction work in progress	106,980	116,851
Intangible assets	35,946	35,959
Total utility plant	4,152,252	3,854,077
Less accumulated depreciation and amortization	981,598	1,223,760
Net utility plant	3,170,654	2,630,317
Nonutility properties and real estate investments	13,350	58,033
Less accumulated depreciation and amortization	194	17,158
Net nonutility properties and real estate investments	13,156	40,875
Current assets:
Cash and cash equivalents	9,723	12,344
Accounts receivable:
Customers, net of allowances for uncollectible accounts of $6,551 and $5,753 in 2023 and 2022, respectively	67,870	59,172
Income tax	5,187	0
Other	3,684	5,560
Accrued unbilled revenue	49,543	45,722
Assets held for sale	40,850	0
Prepaid expenses	11,110	9,753
Current regulatory assets	4,276	19,740
Other current assets	6,146	6,095
Total current assets	198,389	158,386
Other assets:
Regulatory assets, less current portion	235,910	246,035
Investments	16,411	14,819
Postretirement benefit plans	33,794	16,990
Other intangible asset	28,386	0
Goodwill	640,311	640,311
Other	8,056	7,323
Total other assets	962,868	925,478
Total assets	4,345,067	3,755,056
Stockholders’ equity:
Common stock, $0.001 par value; authorized 70,000,000 shares in 2023 and 2022; issued and outstanding 32,023,004 shares in 2023 and 30,801,912 shares in 2022	32	31
Additional paid-in capital	736,191	651,004
Retained earnings	495,383	458,356
Accumulated other comprehensive income	1,791	1,477
Total stockholders’ equity	1,233,397	1,110,868
Long-term debt, less current portion	1,526,699	1,491,965
Total capitalization	2,760,096	2,602,833
Current liabilities:
Lines of credit	171,500	159,578
Current portion of long-term debt	48,975	4,360
Accrued groundwater extraction charges, purchased water and power	24,479	19,707
Accounts payable	46,121	29,581
Accrued interest	15,816	13,907
Accrued payroll	12,229	11,908
Income tax payable	0	2,696
Current regulatory liabilities	3,059	3,672
Other current liabilities	20,795	22,913
Total current liabilities	342,974	268,322
Deferred income taxes	238,528	218,155
Advances for construction	146,582	137,696
Contributions in aid of construction	326,451	323,668
Postretirement benefit plans	46,836	59,738
Regulatory liabilities, less current portion	461,108	118,760
Other noncurrent liabilities	22,492	25,884
Commitments and contingencies
Total equity and liabilities	$ 4,345,067	$ 3,755,056

Capitalization	12 Months Ended
Capitalization	Dec. 31, 2023
Equity [Abstract]
Capitalization	Capitalization SJW Group is authorized to issue 70,000,000 shares of common stock of $0.001 par value per share. At December 31, 2023 and 2022, 32,023,004 and 30,801,912, respectively, shares of common stock were issued and outstanding. As of December 31, 2023 and 2022, 1,000,000 shares of preferred stock of $0.001 par value per share were authorized for SJW Group. At December 31, 2023 and 2022, no shares of preferred stock were issued or outstanding. In March 2023, SJW Group entered into Amendment No. 1 to the equity distribution agreement (the “Equity Distribution Agreement”), dated November 17, 2021, between SJW Group and J.P. Morgan Securities LLC, Janney Montgomery Scott LLC, RBC Capital Markets, LLC and Wells Fargo Securities, LLC, pursuant to which the company may offer and sell shares of its common stock, $0.001 par value per share, from time to time in “at-the-market” offerings, having an aggregate gross sales price of up to $240,000. For the year ended December 31, 2023, SJW Group issued and sold a total of 1,119,806 shares of common stock with a weighted average price of $73.68 per share and received $80,659 in net proceeds under the Equity Distribution Agreement. Since the inception of the Equity Distribution Agreement, SJW Group has issued and sold 2,004,657 shares of common stock with a weighted average price of $73.57 for a total net proceeds of $143,998 and has a remaining $92,509 under the Equity Distribution Agreement to issue into shares. On March 8, 2021, SJW Group entered into an underwriting agreement with J.P. Morgan Securities LLC, as the representative of the several underwriters named therein (the “Underwriters”), which provided for the issuance and sale by SJW Group to the Underwriters 1,030,000 shares of common stock, par value $0.001 per share, in an underwritten public offering (the “Offering”). The shares in the Offering were sold at a public offering price of $59.00 per share. SJW Group also granted the Underwriters an option to purchase up to 154,500 additional shares of common stock, which was exercised in full. The Offering closed on March 11, 2021, and the offering of option shares closed on March 16, 2021. SJW Group received net proceeds of $66,775 from the Offering and the sale of option shares, after deducting the underwriting discounts and commissions and offering expenses.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (d)
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-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
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-Paragraph 6
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-URI https://asc.fasb.org//1943274/2147481004/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
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-Name Accounting Standards Codification
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-Subparagraph (a)
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
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-Paragraph 13
-Subparagraph (g)
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-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
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-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

+ Details

Equity Plans

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Equity Plans

Common Stock

SJW Group’s long-term incentive plans provide employees, non-employee board members or the board of directors of any parent or subsidiary, consultants, and other independent advisors who provide services to the company or subsidiary the opportunity to acquire an equity interest in SJW Group. SJW Group also maintains stock plans in connection with its acquisition of CTWS which are no longer granting new stock awards. In addition, shares are issued to employees under SJW Group’s employee stock purchase plan.

On April 26, 2023, SJW Group adopted the successor plans, the 2023 Long-Term Incentive Plan and the 2023 Employee Stock Purchase Plan, to replace the Amended and Restated Long-Term Incentive Plan (the, “Predecessor Incentive Plan”) and the 2014 Employee Stock Purchase Plan (the, “Predecessor ESPP”), respectively. The Predecessor Incentive Plan terminated on April 23, 2023 and the Predecessor ESPP terminated on July 31, 2023. Each outstanding award under the Predecessor Incentive Plan will remain outstanding under the Predecessor Incentive Plan and shall be governed solely by the terms of the documents evidencing such awards. The 2023 Long-Term Incentive Plan reserves a total of 1,142,000 shares of SJW Group’s common stock for issuance to employees, non-employee board members or the board of directors of any parent or subsidiary,

consultants, and other independent advisors who provide services to the SJW Group and its subsidiaries. The 2023 Employee Stock Purchase Plan reserves for a total of 500,000 shares of SJW Group’s common stock for issuance for eligible employees to purchase common stock at a discount through accumulated payroll deductions. Remaining reserves for both of the predecessor plans were terminated with the adoption of the successor plans.

The plans allow SJW Group to provide employees, non-employee Board members or the board of directors of any parent or subsidiary, consultants, and other independent advisors who provide services to the company or any parent or subsidiary the opportunity to acquire an equity interest in SJW Group.

A participant in the plans generally may not receive plan awards covering an aggregate of more than 600,000 shares of common stock in any calendar year. Additionally, awards granted under the plans may be conditioned upon the attainment of specified Company performance goals. The types of awards included in the plans are restricted stock awards, restricted stock units, performance shares, or other share-based awards. In addition, shares are issued to employees under the employee stock purchase plan (“ESPP”) that was approved by SJW Group stockholders.

As of December 31, 2023, 2022 and 2021, 1,080,759, 1,013,782 and 946,086 shares have been issued pursuant to the plans, and 150,704, 162,502 and 168,721 shares are issuable upon the vesting of outstanding restricted stock units, performance-based stock units, and deferred restricted stock units for the years ended 2023, 2022 and 2021, respectively. The remaining shares available for issuance under the plans are 1,136,979 as of December 31, 2023. The compensation costs charged to income is recognized on a straight-line basis over the requisite service period.


	2023		2022	2021
Compensation costs charged to income:
ESPP	$	378	369	357
Restricted stock and deferred restricted stock	4,269		4,422	3,889
Total compensation costs charged to income	$	4,647	4,791	4,246
ESPP proceeds	$	2,141	2,091	2,026

Restricted Stock and Deferred Restricted Stock


	Units	Weighted- Average Grant- Date Fair Value
Outstanding as of January 1, 2023	162,502	$	63.77
Granted	69,655	$	78.30
Issued	(66,977)	$	57.05
Forfeited	(14,476)	$	72.43
Outstanding as of December 31, 2023	150,704	$	72.64
Shares vested as of December 31, 2023	27,159	$	66.81


	Units	Weighted- Average Grant- Date Fair Value
Nonvested as of January 1, 2023	125,459	$	66.71
Granted	69,655	$	78.30
Vested	(63,755)	$	64.62
Forfeited	(7,814)	$	72.98
Nonvested as of December 31, 2023	123,545	$	73.93

Total fair value of restricted stock awards for all plans that were vested for the years ended 2023, 2022 and 2021 were $4,170, $4,369 and $3,332, respectively. As of December 31, 2023, the total unrecognized compensation costs related to restricted and deferred restricted stock plans amounted to $4,587. This cost is expected to be recognized over a weighted-average period of 1.67 years.

For the years ended December 31, 2023, 2022 and 2021, 15,955, 11,551 and 7,327, respectively, of performance-based and market-based restricted stock awards were issued upon the attainment of certain performance metrics and service-based vesting under the Plan. Based upon actual attainment relative to the target performance metric, the number of shares issuable can range between 0% to 150% of the target number of shares for performance-based restricted stock awards, or between 0% and 200% of the target number of shares for market-based restricted stock awards. As of December 31, 2023, 24,726 performance-based and market-based restricted stock awards vested and 61,763 remained outstanding.

Employee Stock Purchase Plan

The ESPP allows eligible employees to purchase shares of SJW Group’s common stock at 85% of the fair value of shares on the purchase date. Under the ESPP, employees can designate up to a maximum of 10% of their base compensation for the purchase of shares of common stock, subject to certain restrictions. A total of 500,000 shares of SJW Group’s common stock have been reserved for issuance under the ESPP. The remaining shares available for issuance under the ESPP are 500,000 as of December 31, 2023.

For the year ended December 31, 2023, 2022 and 2021, a total of 34,122, 36,585 and 35,304 shares, respectively, were issued under the ESPP. The plan has no look-back provisions.

For the years ended December 31, 2023, 2022 and 2021, SJW Group’s recorded expenses were $380, $377 and $361, respectively, related to the ESPP. The total unrecognized compensation costs related to the semi-annual offering period that ended January 31, 2024, for the ESPP is approximately $27.

Benefit Plans - Actuarial Calculation Assumptions (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit cost, rate of compensation increase			4.00%
Minimum \| Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit cost, discount rate	4.95%	2.65%	2.29%
Net periodic benefit cost, expected return on plan assets	6.00%	6.50%	6.50%
Net periodic benefit cost, rate of compensation increase	4.50%	4.00%
Benefit obligations, discount rate	4.99%	4.95%
Benefit obligations, rate of compensation increase	4.50%	4.50%
Minimum \| Other Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit cost, discount rate	4.96%	2.61%	2.18%
Net periodic benefit cost, expected return on plan assets	4.20%	4.20%	4.20%
Benefit obligations, discount rate	4.95%	4.96%
Maximum \| Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit cost, discount rate	5.24%	2.82%	2.48%
Net periodic benefit cost, expected return on plan assets	6.75%	6.75%	6.75%
Net periodic benefit cost, rate of compensation increase	5.00%	4.50%
Benefit obligations, discount rate	5.03%	5.24%
Benefit obligations, rate of compensation increase	5.00%	5.00%
Maximum \| Other Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit cost, discount rate	5.21%	2.76%	2.41%
Net periodic benefit cost, expected return on plan assets	6.00%	6.00%	6.50%
Benefit obligations, discount rate	5.01%	5.21%

Cover Page - USD ($) $ in Millions	12 Months Ended
Cover Page - USD ($) $ in Millions	Dec. 31, 2023	Feb. 15, 2024	Jun. 30, 2023
Entity [Abstract]
Document Type	10-K
Document Annual Report	true
Current Fiscal Year End Date	--12-31
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Entity File Number	001-8966
Entity Registrant Name	SJW GROUP
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	77-0066628
Entity Address, Address Line One	110 West Taylor Street,
Entity Address, City or Town	San Jose,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95110
City Area Code	(408)
Local Phone Number	279-7800
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	SJW
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction Flag	false
Entity Shell Company	false
Entity Public Float			$ 2,199
Entity Common Stock, Shares Outstanding		32,060,353
Documents Incorporated by Reference	Portions of the registrant’s Proxy Statement relating to the registrant’s Annual Meeting of Stockholders are incorporated by reference into Part III of this Form 10-K where indicated.
Entity Central Index Key	0000766829
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false

Intangible Assets - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Feb. 25, 2022	Dec. 31, 1997
Utility Plant Intangible Assets:
Intangible assets	$ 35,946	$ 35,959
Utility plant net intangible assets	15,057	16,367
Other intangible asset	28,386	0
Concession fees
Utility Plant Intangible Assets:
Intangible assets	6,800	6,800	$ 1,600	$ 6,800
Accumulated amortization of intangible assets	6,754	6,693
Purchase premium customer relationships
Utility Plant Intangible Assets:
Intangible assets	13,400	13,400
Accumulated amortization of intangible assets	3,774	2,881
Other intangibles
Utility Plant Intangible Assets:
Intangible assets	15,746	15,759
Accumulated amortization of intangible assets	$ 10,361	$ 10,018

Benefit Plans - Reconciliation of Funded Status (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Change in plan assets
Fair value of assets at beginning of year	$ 269,912
Fair value of plan assets at end of year	306,711	$ 269,912
Pension Benefits
Change in benefit obligation
Benefit obligation at beginning of year	289,123	383,838
Service cost	7,569	9,359	$ 9,730
Interest cost	14,234	10,708	9,415
Actuarial loss/(gain)	5,794	(94,793)
Implicit rate subsidy	0	0
Plan participants contributions	0	0
Administrative expenses paid	(137)	(136)
Benefits paid and settlements	(18,749)	(19,853)
Benefit obligation at end of year	297,834	289,123	383,838
Change in plan assets
Fair value of assets at beginning of year	251,960	310,176
Actual return on plan assets	41,285	(49,939)
Employer contributions	11,145	11,712
Plan participants contributions	0	0
Administrative expenses paid	(137)	(136)
Benefits paid and settlements	(18,749)	(19,853)
Fair value of plan assets at end of year	285,504	251,960	310,176
Funded status at end of year	(12,330)	(37,163)
Other Postretirement Benefits
Change in benefit obligation
Benefit obligation at beginning of year	25,830	34,412
Service cost	638	1,032	1,115
Interest cost	1,268	883	806
Actuarial loss/(gain)	(2,645)	(9,360)
Implicit rate subsidy	(237)	(236)
Plan participants contributions	179	207
Administrative expenses paid	0	0
Benefits paid and settlements	(769)	(1,108)
Benefit obligation at end of year	24,264	25,830	34,412
Change in plan assets
Fair value of assets at beginning of year	17,952	21,767
Actual return on plan assets	3,136	(3,606)
Employer contributions	920	626
Plan participants contributions	179	207
Administrative expenses paid	(67)	(65)
Benefits paid and settlements	(913)	(977)
Fair value of plan assets at end of year	21,207	17,952	$ 21,767
Funded status at end of year	$ (3,057)	$ (7,878)

Summary of Significant Accounting Policies - Financial Instruments and Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Bank Owned Life Insurance	$ 8,220	$ 7,342
Value of life insurance contracts	$ 3,937	$ 3,420

Acquisitions (Details) $ in Thousands			12 Months Ended
Acquisitions (Details) $ in Thousands	Aug. 14, 2023 USD ($) people serviceConnection	Dec. 17, 2021 USD ($) mi² people serviceConnection	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Business Acquisition [Line Items]
Payments for business acquisition			$ 7,537	$ 433	$ 23,587
Seller financing in asset acquisition, net of discount			15,400	0	$ 0
Goodwill			$ 640,311	640,311
KT Water Resource L. P.
Business Acquisition [Line Items]
Asset acquisition, consideration transferred before transaction costs	$ 39,891
Payment for asset acquisition	24,491
Seller financing in asset acquisition, net of discount	15,400
Asset acquisition, transaction cost	170
Asset acquisition, consideration transferred	40,061
Asset acquisition, other intangible asset	28,386
Asset acquisition, nonutility property	11,684
Asset acquisition, other current liabilities	9
Asset acquisition, post-closing production payment	$ 29,000
Asset acquisition, period of post-closing production payment	29 years
KT Water Development Ltd
Business Acquisition [Line Items]
Payments for business acquisition	$ 7,338
Kendall West Utility and Bandera East Utility
Business Acquisition [Line Items]
Payments for business acquisition		$ 23,587
Utility plant, net		9,400
Goodwill		$ 12,300		12,167
Goodwill, measurement period adjustments				$ 161
Texas Water \| KT Water Development Ltd
Business Acquisition [Line Items]
Number of people served from acquisition \| people	1,725
Texas Water \| KT Water Development Ltd \| Southern Comal County, Texas
Business Acquisition [Line Items]
Number of service connections from acquisition \| serviceConnection	570
CLWSC \| Kendall West Utility and Bandera East Utility
Business Acquisition [Line Items]
Number of people served from acquisition \| people		5,000
Service area from acquisition \| mi²		19
CLWSC \| Kendall West Utility and Bandera East Utility \| South Central Texas
Business Acquisition [Line Items]
Number of service connections from acquisition \| serviceConnection		1,600

Regulatory Matters (Tables)

12 Months Ended

Dec. 31, 2023

Regulated Operations [Abstract]

Schedule of Regulatory Assets, Net

Regulatory assets and liabilities are comprised of the following as of December 31:


	2023		2022
Regulatory assets:
Income tax temporary differences (a)	$	157,669	137,860
Unrecognized pensions and other postretirement benefits (b)	24,593		45,799
Business combinations debt premium (c)	14,855		17,396
Employee benefit costs (d)	9,815		8,068
MWRAM (e)	9,361		10,864
Customer Assistance Program (“CAP”) balancing account (f)	5,457		3,417
Catastrophic event memorandum accounts (“CEMA”) (g)	4,819		3,485
2022 general rate case interim memorandum account (h)	4,571		20,650
Water supply costs (i)	583		9,873
Other (j)	8,463		8,363
Total regulatory assets	240,186		265,775
Less: current regulatory asset (k)	4,276		19,740
Total regulatory assets, less current portion	$	235,910	246,035
Regulatory liabilities:
Cost of removal (l)	$	346,418	—
Future income tax benefits due to customers (m)	88,610		94,426
Unrecognized pensions and other postretirement benefits (b)	20,196		14,307
Revenue adjustment mechanisms (n)	5,536		9,528
Other (o)	3,407		4,171
Total regulatory liabilities	464,167		122,432
Less: current regulatory liabilities (p)	3,059		3,672
Total regulatory liabilities, less current portion	$	461,108	118,760

___________________________________

(a)Consists primarily of temporary income tax differences that are flowed through to customers, which will be recovered in future rates as these temporary differences reverse. The company expects to recover regulatory assets related to plant depreciation income tax temporary differences over the lives of the plant assets, which are between 4 to 100 years.

(b)Represents actuarial losses and gains and prior service cost that have not yet been recognized as components of net periodic benefit cost for certain pension and other postretirement benefit plans.

(c)Consists of debt fair value adjustments recognized through purchase accounting for the completed merger with CTWS in 2019.

(d)Includes deferrals of pension and other postretirement benefit expense and cost of accrued benefits for vacation.

(e)MWRAM is described in the previous section.

(f)Represents costs associated with SJWC’s CAP.

(g)Primarily related to increased bad debt expenses associated with SJWC’s response to COVID-19. The CPUC has authorized water utilities to activate CEMA accounts in order to track savings and costs related to SJWC’s response to catastrophic events, which includes external labor and materials, increases in bad debt from suspension of shutoffs for non-payment, waived deposits and reconnection fees, and divergence from actual versus authorized usage.

(h)Represents the difference between revenues collected in interim rates in effect as of January 1, 2022 and revenues that would result from rates authorized in SJWC’s 2022 general rate case retroactive to January 1, 2022.

(i)Reflects differences in actual water supply costs compared to amounts assumed in setting rates, including applicable changes and variations in costs and quantities that affect the overall mix of the water supply.

(j)Other includes other balancing and memorandum accounts and regulatory mechanisms, deferred costs for certain information technology activities, asset retirement obligations and rate case expenses.

(k)As of December 31, 2023, primarily relates to MWRAM. As of December 31, 2022, primarily relates to the 2022 general rate case interim memorandum account.

(l)Represents amounts collected in rates from customers for estimated costs to retire assets at the end of their expected useful lives before the costs are incurred. During 2023, the Company completed a new depreciation study and as of December 31, 2023, recorded a classification adjustment of $346,418 as cost of removal regulatory liabilities. As of December 31, 2022, cost of removal regulatory liabilities of $316,647 are included in net utility plant - accumulated depreciation and amortization. Management has concluded a classification adjustment to the prior year balance sheet is not necessary because the impact is immaterial.

(m)On December 22, 2017 the Tax Act was signed into law. The Tax Act included a reduction in the federal income tax rate from 35% to 21%. The rate reduction was effective on January 1, 2018 and resulted in a regulatory liability for the excess deferred income taxes. The benefit of amortization of excess deferred income taxes flows back to the customers under current normalization rules and agreed upon methods with the commissions.

(n)Consists of WRA and WCMA, which are described in the previous section.

(o)Other includes other balancing and memorandum accounts, other regulatory mechanisms and accrued tank painting costs.

(p)As of December 31, 2023 and 2022, primarily relates to WRA.

Summary of Significant Accounting Policies - Property, Plant and Equipment and Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Major components of depreciable plant and equipment [Abstract]
Source of supply	$ 207,537	$ 191,082
Pumping plant	284,308	269,246
Water treatment plant	354,617	327,492
Transmission and distribution plant	2,820,358	2,615,640
General plant	301,091	257,825
Total depreciable plant and equipment	$ 3,967,911	$ 3,661,285
Useful Lives
Depreciation expense as percentage of beginning of year balance of depreciable plant	2.90%	3.30%	3.20%
Capitalized interest costs	$ 2,900	$ 4,703	$ 4,422
Equity funds capitalized	2,114	1,551	1,926
Water Plant
Useful Lives
Depreciation	$ 104,325	$ 99,413	$ 91,906
Minimum
Useful Lives
Source of supply	20 years
Pumping plant	5 years
Water treatment plant	5 years
Transmission and distribution plant	10 years
General plant	4 years
Useful life of intangible assets	5 years
Maximum
Useful Lives
Source of supply	100 years
Pumping plant	70 years
Water treatment plant	50 years
Transmission and distribution plant	100 years
General plant	61 years
Useful life of intangible assets	70 years

Summary of Significant Accounting Policies - Asset Retirement Obligation (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Estimated future retirement costs	$ 4,198	$ 4,426
Discount rate	6.00%	6.00%
Retirement obligation, present value	$ 862	$ 920

Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets

The costs of intangible assets as of December 31, 2023 and 2022 are as follows:


	2023		2022
Utility Plant Intangible Assets:
Concession fees	$	6,800	6,800
Purchase premium customer relationships	13,400		13,400
Other intangibles	15,746		15,759
Utility plant intangible assets	35,946		35,959
Less: Accumulated amortization
Concession fees	6,754		6,693
Purchase premium customer relationships	3,774		2,881
Other intangibles	10,361		10,018
Utility plant net intangible assets	$	15,057	16,367
Other Intangible Asset:
Water rights	$	28,386	—

Summary of Significant Accounting Policies - Earnings per Share (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive restricted common stock units excluded from computation of earnings per share (in shares)	14,193	25,127	16,347

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Income Tax Contingency [Line Items]
Change in net deferred tax liabilities	$ 20,373
Unrecognized tax benefits before impact of deductions for state taxes, excluding interest and penalties	4,511	$ 9,004
Unrecognized tax benefits that would impact effective tax rate	4,048	$ 8,262
Accrued interest, expense net of the benefit of tax deductions	455
Unrecognized tax benefits, decrease resulting from re-evaluation of reserve	3,125
Cumulative reduction in unrecognized tax benefits, due to lapsing of statutes of limitations	151
Connecticut
Income Tax Contingency [Line Items]
Operating loss carryforwards	18,369
Tax credit carryforward	$ 707

Intangible Assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Utility plant intangible assets consist of a concession fee paid to the City of Cupertino of $6,800 for operating the City of Cupertino municipal water system, $13,400 related to the purchase premium for customer relationships and other intangibles of $15,746 as of December 31, 2023. Other intangibles primarily consist of $5,984 for infrastructure related to the Cupertino service concession arrangement, $4,292 which was paid for service area and water rights by TWC, $1,400 for customer relationships and $1,040 incurred in conjunction with Valley Water water contracts related to the operation of SJWC. The nonutility other intangible asset represents water rights with an indefinite life.

Amortization expense for the intangible assets was $1,310, $3,869 and $1,553 for the years ended December 31, 2023, 2022 and 2021, respectively. Amortization expense for 2024 through 2028 and thereafter is anticipated to be approximately $1,310 per year.

The costs of intangible assets as of December 31, 2023 and 2022 are as follows:


	2023		2022
Utility Plant Intangible Assets:
Concession fees	$	6,800	6,800
Purchase premium customer relationships	13,400		13,400
Other intangibles	15,746		15,759
Utility plant intangible assets	35,946		35,959
Less: Accumulated amortization
Concession fees	6,754		6,693
Purchase premium customer relationships	3,774		2,881
Other intangibles	10,361		10,018
Utility plant net intangible assets	$	15,057	16,367
Other Intangible Asset:
Water rights	$	28,386	—

Lines of Credit (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Line of Credit Facilities

A summary of the line of agreements as of December 31, 2023 and 2022 are as follows:


		2023				2022
	Maturity Date	Line Limit		Amounts Outstanding	Unused Portion	Amounts Outstanding
Syndicated credit agreement:	August 2, 2028
SJW Group		$	50,000	10,000	40,000	—
SJWC		140,000		56,000	84,000	95,000
CTWS		90,000		53,000	37,000	20,000
TWC		20,000		2,500	17,500	—
Total syndicated credit agreement		300,000		121,500	178,500	115,000
CTWS credit agreement	August 2, 2028	10,000		10,000	—	4,578
CTWS credit agreement	May 15, 2025	40,000		40,000	—	40,000
		$	350,000	171,500	178,500	159,578

Income Taxes - Components of Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current:
Federal	$ 10,185	$ 8,570	$ 8,587
State	4,281	3,170	2,633
Deferred:
Federal	(8,871)	(3,223)	(3,811)
State	361	(21)	960
Income tax expense	$ 5,956	$ 8,496	$ 8,369

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Financial Statement Schedule - Condensed Statements of Comprehensive Income (Details) - USD ($) $ in Thousands		12 Months Ended
	Jun. 29, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Condensed Financial Statements, Captions [Line Items]
Operating revenue		$ 670,363	$ 620,698	$ 573,686
Operating expense:
Administrative and general		98,656	95,404	87,332
Property taxes and other non-income taxes		34,475	32,572	30,964
Total operating expense		520,928	489,720	462,527
Operating income		149,435	130,978	111,159
Other (expense) income:
Interest on long-term debt and other interest expense		(66,144)	(58,062)	(54,339)
Gain on sale of asset	$ 3,000
Other, net		8,882	4,385	10,697
Income before income taxes		90,943	82,324	68,847
Provision for income taxes		5,956	8,496	8,369
Net income		84,987	73,828	60,478
Other comprehensive income, net		314	1,640	901
Comprehensive income		85,301	75,468	61,379
SJW Group
Condensed Financial Statements, Captions [Line Items]
Operating revenue		0	0	0
Operating expense:
Administrative and general		2,239	1,977	2,050
Property taxes and other non-income taxes		80	93	(38)
Total operating expense		2,319	2,070	2,012
Operating income		(2,319)	(2,070)	(2,012)
Other (expense) income:
Interest on long-term debt and other interest expense		(17,692)	(17,795)	(18,673)
Gain on sale of asset		0	0	3,000
Interest income on intercompany notes receivable		3,862	81	313
Other, net		1,034	(421)	(473)
Income before income taxes		(15,115)	(20,205)	(17,845)
Provision for income taxes		(4,294)	(5,523)	(4,660)
Equity earnings from subsidiaries, net of taxes		95,808	88,510	73,663
Subsidiaries
Other (expense) income:
Equity earnings from subsidiaries, net of taxes		$ 95,808	$ 88,510	$ 73,663

Lines of Credit

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Lines of Credit

SJW Group and its subsidiaries have unsecured line of credit agreements where borrowings are used to refinance existing debt, for working capital, and for general corporate purposes. A summary of the line of agreements as of December 31, 2023 and 2022 are as follows:


		2023				2022
	Maturity Date	Line Limit		Amounts Outstanding	Unused Portion	Amounts Outstanding
Syndicated credit agreement:	August 2, 2028
SJW Group		$	50,000	10,000	40,000	—
SJWC		140,000		56,000	84,000	95,000
CTWS		90,000		53,000	37,000	20,000
TWC		20,000		2,500	17,500	—
Total syndicated credit agreement		300,000		121,500	178,500	115,000
CTWS credit agreement	August 2, 2028	10,000		10,000	—	4,578
CTWS credit agreement	May 15, 2025	40,000		40,000	—	40,000
		$	350,000	171,500	178,500	159,578

SJW Group, SJWC, TWC, and CTWS have entered into a $300,000 credit agreement (the “Credit Agreement”) with JPMorgan Chase Bank, N.A., as Administrative Agent (“JP Morgan”), Wells Fargo Bank, National Association, as Documentation Agent, and a syndicate of banks dated August 2, 2022. Proceeds of borrowings under the Credit Agreement will be used for refinancing existing debt, working capital, and general corporate purposes. The Credit Agreement had a maturity date of August 2, 2027. On August 2, 2023, SJW Group, SJWC, TWC, and CTWS entered into the First Amendment to the Credit Agreement with JPMorgan Chase Bank which provided for, among other matters, an extension of the maturity date from August 2, 2027 to August 2, 2028.

Under the terms of the Credit Agreement, each of SJW Group, SJWC, TWC, and CTWS is a borrower with several and not joint liability. Each borrower has an initial borrowing entitlement, or sublimit, which can be periodically adjusted from time to time as set forth in the Credit Agreement. The initial sublimit of each borrower is as presented in the table above.

Borrowings under the Credit Agreement bear interest at either the Alternative Base Rate (as defined in the Credit Agreement and hereinafter referred to as “ABR”) or the Adjusted Term Secured Overnight Financing Rate (as defined in the Credit Agreement and hereinafter referred to as “SOFR”). ABR borrowings (which are borrowings bearing interest at a rate determined by reference to ABR) will bear interest at a rate per annum equal to ABR plus the applicable rate. SOFR borrowings (which are borrowings bearing interest at a rate determined by reference to SOFR) will bear interest at a rate per annum equal to SOFR plus the applicable rate. The applicable rate and pricing is variable depending on credit ratings of the borrower.

The Credit Agreement includes a financial covenant that requires each of the borrowers to maintain its funded debt to capitalization ratio at or below 70%.

On October 31, 2022, CTWS and Citizens Bank, National Association, entered into a fifth modification to the amended and restated revolving credit facility of $10,000 to update the interest rate from London Interbank Offered Rate (“LIBOR”) plus the applicable rate to SOFR plus the applicable rate. In August 2023, SJW Group, SJWC, TWC, and CTWS entered into the First Amendment to Credit Agreement with JPMorgan Chase Bank which provided for, among other matters, an extension of the maturity date from August 2, 2027 to August 2, 2028.

On February 6, 2023, CTWS modified its existing $40,000 credit agreement with CoBank to update the interest rate from LIBOR plus the applicable rate to SOFR plus the applicable rate.

On February 6, 2023, CTWS entered into a third amendment to the amended and restated promissory note and supplement with CoBank to update the one of the stated terms regarding one of interest rate options from LIBOR plus the applicable rate to SOFR plus the applicable rate. CTWS previously locked the interest rate under this agreement such that this amendment has no impact.

The weighted-average interest rate on short-term borrowings outstanding at December 31, 2023 was 6.48% compared to 5.40% at December 31, 2022.

All of SJW Group’s and subsidiaries’ lines of credit contain customary representations, warranties and events of default, as well as certain restrictive covenants customary for facilities of this type, including restrictions on indebtedness, liens, acquisitions and investments, restricted payments, asset sales, and fundamental changes. The lines of credit also include certain customary financial covenants such as a funded debt to capitalization ratio and a minimum interest coverage ratio. As of December 31, 2023, SJW Group and its subsidiaries were in compliance with all covenants on the lines of credit.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Benefit Plans - Benefits Expected to be Paid in Next Five Years (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Pension Benefits
Expected Future Benefit Payments [Abstract]
2024	$ 16,727
2025	17,455
2026	22,753
2027	18,977
2028	19,121
2029 - 2033	104,931
Other Postretirement Benefits
Expected Future Benefit Payments [Abstract]
2024	1,461
2025	1,549
2026	1,619
2027	1,691
2028	1,647
2029 - 2033	8,580
Maximum
Defined Benefit Plan Disclosure [Line Items]
Estimated required and discretionary employer cash contributions	$ 8,744

Valuation and Qualifying Accounts and Reserves

12 Months Ended

Dec. 31, 2023

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Valuation and Qualifying Accounts and Reserves

SJW Group and Subsidiaries

FINANCIAL STATEMENT SCHEDULE

Schedule II

VALUATION AND QUALIFYING ACCOUNTS AND RESERVES

Years ended December 31, 2023, 2022 and 2021

(in thousands)


Description	2023		2022	2021
Allowance for doubtful accounts:
Balance, beginning of period	$	5,753	4,600	3,891

Charged to expense	3,594		1,195	932
Charged to regulatory asset	1,628		265	1,610
Accounts written off	(5,479)		(2,248)	(2,394)
Recoveries of accounts written off	1,055		1,941	561
Balance, end of period	$	6,551	5,753	4,600
Reserve for litigation and claims:
Balance, beginning of period	$	1,768	607	684
Charged to expense	971		1,583	916
Revision to accrual, due to settlements	(166)		(62)	(50)
Payments	(685)		(360)	(943)
Balance, end of period	$	1,888	1,768	607

Income Taxes - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Advances and contributions	$ 25,714	$ 25,462
Unamortized investment tax credit	517	575
Pensions, postretirement benefits and stock-based compensation	17,844	23,161
Debt premium, net	4,157	4,868
California franchise tax	713	640
Deferred revenue	841	1,444
Tax related regulatory liability	24,358	25,750
Other	7,077	6,627
Total deferred tax assets	81,221	88,527
Deferred tax liabilities:
Utility plant	243,786	229,500
Pension and postretirement	13,247	17,709
Deferred gain and other-property	6,456	5,982
Regulatory asset - business combinations debt premium, net	4,157	4,868
Intangibles	2,693	2,943
Tax related regulatory asset	44,155	38,599
Section 481(a) adjustments	0	1,573
Other	5,255	5,508
Total deferred tax liabilities	319,749	306,682
Net deferred tax liabilities	$ 238,528	$ 218,155

Segment and Non-Tariffed Businesses Reporting (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following tables set forth information relating to SJW Group’s reportable segments and distribution of regulated and non-tariffed business activities within the reportable segments. Certain allocated assets, such as goodwill, revenue and expenses have been included in the reportable segment amounts. Other business activity of SJW Group not included in the reportable segments is included in the “All Other” category.


	For the year ended December 31, 2023
	Water Utility Services		Real Estate Services	All Other (1)	SJW Group
	Regulated (2)	Non- tariffed	Non-tariffed	Non- tariffed	Regulated	Non- tariffed	Total
Operating revenue	652,045	12,634	5,684	—	652,045	18,318	670,363
Operating expense	506,923	7,452	2,956	3,597	506,923	14,005	520,928
Operating income (loss)	145,122	5,182	2,728	(3,597)	145,122	4,313	149,435
Net income (loss)	94,343	4,452	2,059	(15,867)	94,343	(9,356)	84,987
Depreciation and amortization	104,329	340	306	893	104,329	1,539	105,868
Senior note and other interest expense	42,743	329	—	23,072	42,743	23,401	66,144
Income tax expense (benefit) in net income	11,293	1,458	755	(7,550)	11,293	(5,337)	5,956


	For the year ended December 31, 2022
	Water Utility Services		Real Estate Services	All Other (1)	SJW Group
	Regulated	Non- tariffed	Non- tariffed	Non- tariffed	Regulated	Non- tariffed	Total
Operating revenue	603,000	12,093	5,605	—	603,000	17,698	620,698
Operating expense	473,141	9,538	3,719	3,322	473,141	16,579	489,720
Operating income (loss)	129,859	2,555	1,886	(3,322)	129,859	1,119	130,978
Net income (loss)	86,500	1,060	1,442	(15,174)	86,500	(12,672)	73,828
Depreciation and amortization	99,412	2,906	1,206	893	99,412	5,005	104,417
Senior note and other interest expense	37,958	—	—	20,104	37,958	20,104	58,062
Income tax expense (benefit) in net income	12,756	708	453	(5,421)	12,756	(4,260)	8,496


	For the year ended December 31, 2021
	Water Utility Services		Real Estate Services	All Other (1)	SJW Group
	Regulated	Non- tariffed	Non- tariffed	Non- tariffed	Regulated	Non- tariffed	Total
Operating revenue	558,154	10,153	5,379	—	558,154	15,532	573,686
Operating expense	449,401	7,138	3,585	2,403	449,401	13,126	462,527
Operating income (loss)	108,753	3,015	1,794	(2,403)	108,753	2,406	111,159
Net income (loss)	67,530	3,309	1,950	(12,311)	67,530	(7,052)	60,478
Depreciation and amortization	91,896	443	1,168	893	91,896	2,504	94,400
Senior note and other interest expense	34,308	—	—	20,031	34,308	20,031	54,339
Income tax expense (benefit) in net income	10,327	369	619	(2,946)	10,327	(1,958)	8,369

____________________

(1) The “All Other” category for the years ended December 31, 2023, 2022 and 2021, includes the accounts of SJW Group, SJWNE LLC, CTWS, and SJWTX Holdings, Inc. on a stand-alone basis.

(2) As of December 31, 2023, the company has performed an allocation of goodwill associated with the acquisition of CTWS to two reporting units, Connecticut and Maine, which are both aggregated within the Regulated Water Utility Services reportable segment.

SJW Group’s assets by segment are as follows as of December 31:


	2023		2022
Water Utility Services:
Regulated	$	4,199,172	3,643,916
Non-tariffed	43,532		4,832
Total water utility services	4,242,704		3,648,748
Real Estate Services	44,222		42,801
All Other	58,141		63,507
Total assets	$	4,345,067	3,755,056

Regulated	$	4,199,172	3,643,916
Non-tariffed	145,895		111,140
Total assets	$	4,345,067	3,755,056

Summary of Significant Accounting Policies - Advances for Construction and Contributions in Aid of Construction (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Estimated Refunds of Advances for Construction [Abstract]
2024	$ 3,034
2025	2,970
2026	2,878
2027	2,793
2028	2,726
Thereafter	46,574
Advances for construction	146,582	$ 137,696
Customer advances for construction, non-refundable	55,170
Customer advances for construction, refunded on service connections	$ 30,437
Contract with customer, refund period	40 years
Contract with customer, fair value of advances	$ 40,915	$ 44,715
Amortization period for taxes paid relating to advances and contributions	40 years

Organization and Operations (Details)	12 Months Ended
Organization and Operations (Details)	Dec. 31, 2023 entity subsidiary
Public Utilities, General Disclosures [Line Items]
Number of variable interest entities \| entity	1
SJWC
Public Utilities, General Disclosures [Line Items]
Number of subsidiaries that are primary beneficiaries \| subsidiary	1
Variable Interest Entity, Not Primary Beneficiary
Public Utilities, General Disclosures [Line Items]
Ownership percentage in Acequia Water Supply Corporation	25.00%

Equity Plans - Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation costs charged to income:	$ 4,647	$ 4,791	$ 4,246
Restricted stock and deferred restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation costs charged to income:	4,269	4,422	3,889
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation costs charged to income:	378	369	357
ESPP proceeds	$ 2,141	$ 2,091	$ 2,026

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(01)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(02)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(ii)
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(01)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(02)
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(03)
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Valuation and Qualifying Accounts and Reserves (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Allowance for doubtful accounts:
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance, beginning of period	$ 5,753	$ 4,600	$ 3,891
Charged to expense	3,594	1,195	932
Charged to regulatory asset	1,628	265	1,610
Accounts written off	(5,479)	(2,248)	(2,394)
Recoveries of accounts written off	1,055	1,941	561
Balance, end of period	6,551	5,753	4,600
Reserve for litigation and claims:
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance, beginning of period	1,768	607	684
Charged to expense	971	1,583	916
Accounts written off	(166)	(62)	(50)
Payments	(685)	(360)	(943)
Balance, end of period	$ 1,888	$ 1,768	$ 607

Benefit Plans - Fair Value of Plan Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 306,711	$ 269,912
Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	238,665	204,531
Significant Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	68,046	65,381
Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Executive Supplemental Retirement Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,833	2,809
Executive Supplemental Retirement Plan \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,833	2,809
Executive Supplemental Retirement Plan \| Significant Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Executive Supplemental Retirement Plan \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Executive Supplemental Retirement Plan \| Money market funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	71	49
Executive Supplemental Retirement Plan \| Money market funds \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	71	49
Executive Supplemental Retirement Plan \| Money market funds \| Significant Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Executive Supplemental Retirement Plan \| Money market funds \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Executive Supplemental Retirement Plan \| Mutual funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,053	2,032
Executive Supplemental Retirement Plan \| Mutual funds \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,053	2,032
Executive Supplemental Retirement Plan \| Mutual funds \| Significant Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Executive Supplemental Retirement Plan \| Mutual funds \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Executive Supplemental Retirement Plan \| Fixed income
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	709	728
Executive Supplemental Retirement Plan \| Fixed income \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	709	728
Executive Supplemental Retirement Plan \| Fixed income \| Significant Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Executive Supplemental Retirement Plan \| Fixed income \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 0	$ 0

- Definition

Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee.

+ References + Details

Regulatory Matters

12 Months Ended

Dec. 31, 2023

Regulated Operations [Abstract]

Regulatory Matters

Regulation

Water Utility Services, excluding non-tariffed activities, are subject to rate regulation based on cost recovery and meets the criteria of accounting guidance for rate-regulated operations under ASC Topic 980, which affects the timing of the recognition of certain revenues and expenses. SJW Group’s consolidated financial statements reflect the actions of regulators in the rate-making process. The rate-making process is intended to provide revenues sufficient to recover normal operating expenses, provide funds for replacement of water infrastructure and produce a fair and reasonable return on stockholder common equity.

Water Utility Services, excluding non-tariffed activities, recognizes regulatory assets for incurred costs that are deemed probable of recovery from customers. Also, Water Utility Services recognizes regulatory liabilities for amounts expected to be refunded to customers in the rate-making process and for amounts collected in advance of the related expenditures. Regulatory assets or liabilities are also recognized for special revenue programs such as WCMA and WRA in accordance with guidance on alternative revenue programs under ASC Topic 980. Application of ASC 980, including determining whether recovery is probable, requires significant judgment by management and includes assessing evidence that may exist prior to regulatory authorization, including regulatory rules and decisions, historical ratemaking practices, and other facts and circumstances that would indicate that recovery or refund is probable.

If the regulated utility determines that it is no longer probable that regulatory assets or liabilities would be recovered or refunded through the regulatory process, or if the utility ceased to be subject to rate regulation, the affected regulatory assets and liabilities would be derecognized with a corresponding adjustment to income in the period in which that determination was made.

SJWC has established balancing accounts for the purpose of tracking the under-collection or over-collection associated with expense changes and the revenue authorized by the CPUC to offset those expense changes. In 2022, SJWC’s general rate case decision approved the use of the Full Cost Balancing Account to track the water supply costs and energy consumption. The Monterey Water Revenue Adjustment (“MWRAM”) balancing account tracks the difference between the revenue received for actual metered sales through the tiered volumetric rate and the revenue that would have been received with the same actual metered sales if a uniform rate would have been in effect.

SJWC also maintains memorandum accounts to track impacts due to catastrophic events, certain unforeseen water quality expenses related to new federal and state water quality standards, energy efficiency, water conservation, water tariffs, and other approved activities or as directed by the CPUC. The WCMA allows SJWC to track lost revenue, net of related water costs, associated with reduced sales due to water conservation and associated calls for water use reduction. SJWC records the lost revenue captured in the WCMA balancing accounts. Applicable drought surcharges collected are used to offset the revenue losses tracked in the WCMA. Mandatory water conservation requirements from Santa Clara Valley Water District (“Valley Water”) ended on April 11, 2023, which also ended SJWC’s Mandatory Conservation Plan, that included drought allocations and surcharges. On October 2, 2023, the CPUC approved the continuation of WCMA and Water Conservation Expense Memorandum Account under the voluntary call for conservation effective April 20, 2023. All balancing accounts and memorandum accounts not included for recovery or refund in current customer rates will be reviewed by the CPUC in SJWC’s next general rate case or at the time an individual account balance reaches a threshold of 2% of authorized revenue, whichever occurs first.

CWC has been authorized by PURA to utilize WRA, a decoupling mechanism, to mitigate risks associated with changes in demand. The WRA is used to reconcile actual water demands with the demands projected in the most recent general rate case and allows the company to implement a surcharge or sur-credit as necessary to recover or refund the revenues approved in the general rate case. The WRA allows the company to defer, as a regulatory asset or liability, the amount by which actual revenues deviate from the revenues allowed in the most recent general rate proceedings.

As of December 31, 2023 and 2022, SJW Group’s regulatory assets not earning a return primarily included unrecognized pensions and other postretirement benefits and business combinations debt premium. The total amount of regulatory assets not earning a return at December 31, 2023 and 2022, either by interest on the regulatory asset or as a component of rate base at the allowed rate of return was $43,141 and $66,373, respectively.

Regulatory Assets and Liabilities

Regulatory assets and liabilities are comprised of the following as of December 31:


	2023		2022
Regulatory assets:
Income tax temporary differences (a)	$	157,669	137,860
Unrecognized pensions and other postretirement benefits (b)	24,593		45,799
Business combinations debt premium (c)	14,855		17,396
Employee benefit costs (d)	9,815		8,068
MWRAM (e)	9,361		10,864
Customer Assistance Program (“CAP”) balancing account (f)	5,457		3,417
Catastrophic event memorandum accounts (“CEMA”) (g)	4,819		3,485
2022 general rate case interim memorandum account (h)	4,571		20,650
Water supply costs (i)	583		9,873
Other (j)	8,463		8,363
Total regulatory assets	240,186		265,775
Less: current regulatory asset (k)	4,276		19,740
Total regulatory assets, less current portion	$	235,910	246,035
Regulatory liabilities:
Cost of removal (l)	$	346,418	—
Future income tax benefits due to customers (m)	88,610		94,426
Unrecognized pensions and other postretirement benefits (b)	20,196		14,307
Revenue adjustment mechanisms (n)	5,536		9,528
Other (o)	3,407		4,171
Total regulatory liabilities	464,167		122,432
Less: current regulatory liabilities (p)	3,059		3,672
Total regulatory liabilities, less current portion	$	461,108	118,760

___________________________________

(c)Consists of debt fair value adjustments recognized through purchase accounting for the completed merger with CTWS in 2019.

(d)Includes deferrals of pension and other postretirement benefit expense and cost of accrued benefits for vacation.

(e)MWRAM is described in the previous section.

(f)Represents costs associated with SJWC’s CAP.

(j)Other includes other balancing and memorandum accounts and regulatory mechanisms, deferred costs for certain information technology activities, asset retirement obligations and rate case expenses.

(k)As of December 31, 2023, primarily relates to MWRAM. As of December 31, 2022, primarily relates to the 2022 general rate case interim memorandum account.

(n)Consists of WRA and WCMA, which are described in the previous section.

(o)Other includes other balancing and memorandum accounts, other regulatory mechanisms and accrued tank painting costs.

(p)As of December 31, 2023 and 2022, primarily relates to WRA.

Benefit Plans

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Benefit Plans

Pension Plans

SJW Group maintains noncontributory defined benefit pension plans for its eligible employees. SJWC employees hired before March 31, 2008 and CWC and MWC employees hired before January 1, 2009 are entitled to benefits under the pension plans based on the employee’s years of service and compensation. For SJWC employees hired on or after March 31, 2008, benefits are determined using a cash balance formula based upon compensation credits and interest credits for each employee. Effective January 1, 2023, TWC employees became eligible to participate under SJWC’s cash balance plan. Interest is credited based on the annual yield on 30-year Treasury bonds as of October for the preceding plan year with a minimum annual rate of 3.25% and a maximum annual rate of 6.00%. For the year ended December 31, 2023, interest credits assumption was 4.00%. Certain employees hired before March 1, 2012, and covered by a plan merged into the CWC plan in 2013 are also entitled to benefits based on the employee’s years of service and compensation. CTWS employees hired on or after January 1, 2009 are entitled to an additional 1.5% of eligible compensation to their company sponsored savings plan. SJW Group does not have multi-employer plans.

The pension plans are administered by their respective committees where the investment strategy of the investments of the various pension and postretirement benefit plans are reviewed and approved to achieve the goals of income generation and long-term capital preservation. SJW Group engages third-party investment consultants and managers to assist with, among

other things, asset allocation strategy, investment policy advice, performance monitoring, and investment manager due diligence. Individual investment decisions have been delegated by the pension plan committees to the investment managers who are also monitored by an investment consultant. Investment managers are not permitted to invest outside of the asset class or strategy under the pension plans’ investment guidelines. The committees ensure that the plans establish a target mix that is expected to achieve its investment objectives, by assuring a broad diversification of investment assets among investment types, while minimizing volatility of the target asset mix, unless market conditions make such a change appropriate to reduce risk. The pension plans require a minimum portion of plan assets to be allocated to fixed income securities and provide guidelines and restrictions on equity investments for the assets.

Plan assets are marked to market at each measurement date, resulting in unrealized actuarial gains or losses. Unrealized actuarial gains and losses on pension assets are amortized over the expected future working lifetime of participants for actuarial expense calculation purposes.

Generally, it is expected of the investment managers that the performance of the assets held in the pension plans, computed on a total annual rate of return basis, should meet or exceed specific performance standards over a three-to-five-year period and/or full market cycle. These standards include specific absolute and risk-adjusted performance standards over a three-to-five-year period and/or full market cycle. The expected long-term rate of return on the pension plan assets is between 6.00% and 6.75% for the year ended December 31, 2023.

SJW Group calculates the market-related value of defined benefit pension plan assets, which is defined under FASB ASC Topic 715—“Compensation—Retirement Benefits” as a balance used to calculate the expected return on plan assets, using fair value. The fair value is based on quoted prices in active markets for identical assets and significant observable inputs.

Certain senior management hired before March 31, 2008 for SJWC and January 1, 2009 for CWC are eligible to receive additional retirement benefits under the supplemental executive retirement plans and retirement contracts (collectively, “SERP”). SJWC’s senior management hired on or after March 31, 2008 are eligible to receive additional retirement benefits under SJWC’s Cash Balance Executive Supplemental Retirement Plan (“Cash Balance Executive Supplemental Retirement Plan”). Both of the plans are non-qualified plans in which only senior management and other designated members of management may participate. The annual cost of the plans has been included in the determination of the net periodic benefit cost shown below. The SERP and Cash Balance Executive Supplemental Retirement Plan had a projected benefit obligation of $43,001 and $39,455 as of December 31, 2023 and 2022, respectively, and net periodic pension cost of $3,257, $4,400 and $4,456 for 2023, 2022 and 2021, respectively. For the years ended December 31, 2023, 2022 and 2021, the amounts not recognized as a component of net periodic benefit cost was $314, $1,640, and $901, respectively, recorded as other comprehensive income on the consolidated financial statements. SJWC’s non-qualified plans are unfunded while CTWS’s SERP is funded through investments consisting primarily of life insurance contracts and assets in a Rabbi Trust. As of December 31, 2023 and 2022, total investments made to fund CWC’s SERP was $6,843 and $6,395, respectively, which is included in “Investments” in SJW Group’s Consolidated Balance Sheets. The life insurance contracts are valued at cash surrender value of the policies as reported by the insurer. As of December 31, 2023 and 2022, the value of the life insurance contracts was $3,937 and $3,420, respectively.

The following tables summarize the fair values of the Rabbi Trust investment assets to fund CWC’s SERP by major categories as of December 31, 2023 and 2022:


			Fair Value Measurements at December 31, 2023
Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
Money market funds	$	71	71	—	—
Mutual funds	2,053		2,053	—	—
Fixed income	709		709	—	—
Total	$	2,833	2,833	—	—


			Fair Value Measurements at December 31, 2022
Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
Money market funds	$	49	49	—	—
Mutual funds	2,032		2,032	—	—
Fixed income	728		728	—	—
Total	$	2,809	2,809	—	—

Organization and Operations	12 Months Ended
Organization and Operations	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Operations	Organization and Operations The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of SJW Group, its wholly owned subsidiaries, and one variable interest entity in which one SJW Group subsidiary is the primary beneficiary. All intercompany transactions and balances have been eliminated in consolidation. The accounting policies of SJW Group’s subsidiaries comply with the applicable uniform system of accounts prescribed by the respective regulators and conform to generally accepted accounting principles for rate-regulated public utilities. SJW Group is a holding company of San Jose Water Company (“SJWC”), SJWTX Holdings, Inc., SJW Land Company, and SJWNE LLC. SJWNE LLC is a special purpose entity holding company for Connecticut Water Service, Inc. (“CTWS”) (and its wholly owned subsidiaries, The Connecticut Water Company (“CWC”), The Maine Water Company (“MWC”), Chester Realty, Inc. and New England Water Utility Services, Inc. (“NEWUS”). SJW Group, through its wholly owned subsidiaries, primarily provides water utility and other related services in California, Connecticut, Maine and Texas. SJW Group has business in property management and real estate investment activity conducted by SJW Land Company and Chester Realty, Inc. In the third quarter of 2023, the corporate reorganization of our water services organization in Texas was completed. SJWTX Holdings, Inc. is the holding company for SJWTX, Inc., doing business as The Texas Water Company (“TWC”), Texas Water Operation Services, LLC (“TWOS”) and Texas Water Resources, LLC (“TWR”). TWC is a public utility in the business of providing water service in Bandera, Blanco, Comal, Hays, Kendall, Medina and Travis Counties in the growing region between San Antonio and Austin, Texas. TWC additionally provides wastewater service in Comal and Kendall counties. TWC also holds a 25% equity interest in Acequia Water Supply Corporation (“Acequia”). Acequia has been determined to be a variable interest entity within the scope of Accounting Standards Codification (“ASC”) Topic 810—“Consolidation” with TWC as the primary beneficiary. As a result, Acequia has been consolidated with TWC. TWOS was created for non-tariffed service operations and TWR was formed to hold wholesale water supply assets. Water sales are seasonal in nature and influenced by weather conditions. The timing of precipitation and climatic conditions can cause seasonal water consumption by customers to vary significantly. Revenue is generally higher in the warm, dry summer months when water usage and sales are greater and lower in the winter months when cooler temperatures and increased rainfall curtail water usage and sales.

Lines of Credit - Narrative (Details)	Dec. 31, 2023 USD ($)	Aug. 02, 2023	Feb. 06, 2023 USD ($)	Dec. 31, 2022	Oct. 31, 2022 USD ($)	Aug. 02, 2022 USD ($)
Line of Credit Facility [Line Items]
Short-term debt, weighted average interest rate	6.48%			5.40%
Revolving Credit Facility \| Line of Credit
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 350,000,000
Revolving Credit Facility \| Line of Credit \| Credit Agreement
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity						$ 300,000,000
Capitalization ratio		0.70
Revolving Credit Facility \| Line of Credit \| CTWS Credit Agreement Maturing August 2028
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	10,000,000				$ 10,000
Revolving Credit Facility \| Line of Credit \| CTWS Credit Agreement Maturing May 2025
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 40,000,000		$ 40,000,000

Contingencies	12 Months Ended
Contingencies	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies SJW Group and its subsidiaries are subject to ordinary routine litigation incidental to its business. There are no pending legal proceedings to which SJW Group or any of its subsidiaries is a party, or to which any of its properties is the subject, that are expected to have a material effect on SJW Group’s business, financial position, results of operations or cash flows.