American Water Works Company, Inc.

Listed Company

AWKCIK 0001410636NYSELarge AcceleratedWater SupplyDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$1.11B

Total Assets

$35.44B

Equity

$10.84B

Shares Out

195.28M

Op. Cash Flow

$2.06B

Business

American Water Works Company, Inc. provides regulated water and wastewater utility services across the United States. It offers drinking water supply and treatment, wastewater collection and treatment, distribution system operation, customer billing and related technical, environmental and research services. The company reports results through its Regulated Businesses segment and also operates non‑regulated divisions including the Military Services Group (MSG), Contract Services Group (CSG) and a centralized Service Company that supports operations. It serves residential, commercial, industrial, public authority and bulk customers through utilities and long‑term government and municipal contracts across multiple U.S. states (including operations in 24 states and regulated utilities in 14 states).

Summary from filing dated 2025-02-19

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Operating revenues	5,140	4,684	4,234	3,792	3,930
Operation and maintenance	2,019	1,858	1,720	1,589	1,777
Depreciation and amortization	894	788	704	649	636
General taxes	348	320	307	281	321
Other	0	0	−1	0	0
Total operating expenses, net	3,261	2,966	2,730	2,519	2,734
Operating income	1,879	1,718	1,504	1,273	1,196
Interest expense	−615	−523	−460	−433	−403
Interest income	90	94	73	52	4
Non-operating benefit costs, net	16	28	32	77	78
Other, net	52	42	47	20	18
Total other income (expense)	−457	−359	−308	−265	444
Income before income taxes	1,422	1,359	1,196	1,008	1,640
Provision for income taxes	311	308	252	188	377
Net income attributable to common shareholders	1,111	1,051	944	820	1,263
Net income attributable to common shareholders (in dollars per share)	5.69	5.39	4.9	4.51	6.96
Net income attributable to common shareholders (in dollars per share)	5.69	5.39	4.9	4.51	6.95
Basic (in shares)	195	195	193	182	182
Diluted (in shares)	195	195	193	182	182

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Property, plant and equipment	37,955	35,059	32,189	29,736	27,413
Accumulated depreciation	−7,379	−7,021	−6,751	−6,513	−6,329
Property, plant and equipment, net	30,576	28,038	25,438	23,223	21,084
Cash and cash equivalents	98	96	330	85	116
Restricted funds	21	29	34	32	20
Accounts receivable, net of allowance for uncollectible accounts of $58 and $53, respectively	395	416	339	334	271
Income tax receivable	9	25	86	114	4
Unbilled revenues	433	315	302	275	248
Materials and supplies	112	103	112	98	57
Secured seller promissory note from the sale of the Homeowner Services Group	795	0	—	—	—
Other	328	231	186	312	155
Total current assets	2,191	1,215	1,389	1,250	1,554
Regulatory assets	1,132	1,150	1,106	990	1,051
Secured seller promissory note from the sale of the Homeowner Services Group	0	795	720	720	720
Operating lease right-of-use assets	85	89	86	82	92
Goodwill	1,156	1,144	1,143	1,143	1,139
Other	302	399	416	379	242
Total regulatory and other long-term assets	2,675	3,577	3,471	3,314	3,437
Total assets	35,442	32,830	30,298	27,787	26,075
Common stock ($0.01 par value; 500,000,000 shares authorized; 200,605,170 and 200,371,701 shares issued, respectively)	2	2	2	2	2
Paid-in-capital	8,642	8,598	8,550	6,824	6,781
Retained earnings	2,575	2,112	1,659	1,267	925
Accumulated other comprehensive income	6	12	−26	−23	−45
Treasury stock, at cost (5,428,008 and 5,451,216 shares, respectively)	−388	−392	−388	−377	−365
Total common shareholders' equity	10,837	10,332	9,797	7,693	7,298
Long-term debt	12,777	12,518	11,715	10,926	10,341
Redeemable preferred stock at redemption value	3	3	3	3	3
Total long-term debt	12,780	12,521	11,718	10,929	10,344
Total capitalization	23,617	22,853	21,515	18,622	17,642
Short-term debt	1,588	879	179	1,175	584
Current portion of long-term debt	1,479	637	475	281	57
Accounts payable	378	346	294	254	235
Accrued liabilities	830	791	791	706	701
Accrued taxes	134	156	67	49	176
Accrued interest	140	111	93	91	88
Other	198	230	252	255	217
Total current liabilities	4,747	3,150	2,151	2,811	2,141
Advances for construction	435	383	352	316	284
Deferred income taxes and investment tax credits	3,190	2,881	2,717	2,437	—
Regulatory liabilities	1,416	1,416	1,481	1,590	1,600
Operating lease liabilities	74	76	73	70	80
Accrued pension expense	167	217	262	235	285
Other	166	277	196	202	180
Total regulatory and other long-term liabilities	5,448	5,250	5,081	4,850	4,850
Contributions in aid of construction	1,630	1,577	1,551	1,504	1,442
Commitments and contingencies (See Note 16)	—	—	—	—	—
Total capitalization and liabilities	35,442	32,830	30,298	27,787	26,075

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	894	788	704	649	636
Deferred income taxes and amortization of investment tax credits	135	156	208	80	230
Provision for losses on accounts receivable	48	31	24	24	37
Pension and non-pension postretirement benefits	1	−3	−6	−47	−41
Other non-cash, net	−30	34	−27	7	−23
Receivables and unbilled revenues	−145	−107	−56	−114	—
Income tax receivable	16	61	28	−110	21
Pension and non-pension postretirement benefit contributions	−49	−52	−49	−51	−40
Accounts payable and accrued liabilities	97	111	70	−8	66
Accrued taxes	−30	92	21	−118	129
Other assets and liabilities, net	11	−117	13	−5	−16
Net cash provided by operating activities	2,059	2,045	1,874	1,108	1,441
Capital expenditures	−3,126	−2,856	−2,575	−2,297	−1,764
Acquisitions, net of cash acquired	−71	−417	−81	−315	−135
Removal costs from property, plant and equipment retirements, net	−175	−152	−159	−123	−109
Purchases of available-for-sale fixed-income securities	−46	−135	0	0	—
Proceeds from sales and maturities of available-for-sale fixed-income securities	109	181	0	0	—
Net cash used in investing activities	−3,309	−3,379	−2,815	−2,127	−1,536
Proceeds from long-term debt, net of discount	1,781	1,437	1,264	822	1,118
Repayments of long-term debt	−664	−475	−282	−15	−372
Net proceeds from common stock financing	0	0	1,688	0	0
Net short-term borrowings (repayments) with maturities less than three months	709	700	−996	591	−198
Advances and contributions in aid of construction, net of refunds of $31, $33 and $25 in 2025, 2024 and 2023, respectively	67	39	60	74	62
Debt issuance costs	−17	−14	−16	−7	−26
Dividends paid	−633	−585	−532	−467	−428
Other, net	6	8	2	2	−1
Net cash provided by financing activities	1,249	1,110	1,188	1,000	−345
Net (decrease) increase in cash, cash equivalents and restricted funds	−1	−224	247	−19	−440
Interest, net of capitalized amount	568	483	445	414	389
Capital expenditures acquired on account but unpaid as of year end	350	347	399	330	292
Acquisition financed by treasury stock	11	0	0	—	—
Settlements of long-term debt	27	0	0	—	—

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