Company: AWK
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001410636-25-000022
Chunk: 144

Company: American Water Works Company, Inc.
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 144
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11 16 General taxes19 19 17 Interest expense(107)(96)(119)Interest income77 45 50 Gain on sale of businesses— — 19 Other income10 12 6 Provision for (benefit from) income taxes6 (7)— Net loss attributable to common shareholders$(14)$(27)$(34)

Operating Revenues

In 2024, as compared to 2023, operating revenues increased $74 million from an increase in capital projects in MSG, primarily at Naval Station Mayport, and an increase in capital projects in CSG.

Operation and Maintenance

Presented in the table below is information regarding the main components of Other’s operating and maintenance expense:

 For the Years Ended December 31,(In millions)202420232022Operating supplies and services$195 $150 $120 Maintenance materials and supplies27 29 35 Employee-related costs101 85 73 Production costs10 9 10 Other8 6 6 Total operation and maintenance expense$341 $279 $244 

Operating Supplies and Services

In 2024, as compared to 2023, operating supplies and services increased $45 million primarily due to costs associated with the increased capital projects in MSG.

Employee-Related Costs

In 2024, as compared to 2023, employee-related costs increased $16 million primarily due to an increase in salaries and wages. 

61

Interest Income

In 2024, as compared to 2023, interest income increased $32 million primarily due to the increased interest rate and higher principal balance from the February 2024 amendment of the secured seller promissory note from the sale of HOS. See Note 5—Acquisitions and Divestitures—Sale of Homeowner Services Group, in the Notes to Consolidated Financial Statements for additional information.

Tax Matters

On August 16, 2022, the Inflation Reduction Act of 2022 (the “IRA”) was signed into law. The IRA contains a 15% CAMT provision on applicable corporations effective January 1, 2023. To determine if a company is considered an applicable corporation subject to CAMT, the company’s average adjusted financial statement income (“AFSI”) for the three consecutive years preceding the tax year must exceed $1.0 billion. An applicable corporation must make several adjustments to net income when determining AFSI. A corporation paying CAMT is eligible for a