Company: AWK
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001410636-25-000022
Chunk: 15

Company: American Water Works Company, Inc.
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 15
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 probable future settlement as a result of changes in regulatory environments, recent rate orders, and the status of any pending or potential legislation. This in turn led to a high degree of auditor judgment, subjectivity, and effort in performing audit procedures and evaluating audit evidence obtained relating to management’s judgments.

Addressing the matter involved performing procedures and evaluating audit evidence in connection with forming our overall opinion on the consolidated financial statements. These procedures included testing the effectiveness of controls relating to the Company’s regulatory accounting process, including controls over management’s assessment and consideration of factors related to the probability of future recovery or settlement. These procedures also included, among others, evaluating the reasonableness of management’s judgments regarding the probability of recovery and settlement based on the Company’s correspondence with regulators, status of regulatory proceedings, past practices, and other relevant information; evaluating the related accounting and disclosure implications; and evaluating regulatory asset and liability balances based on provisions and formulas outlined in rate orders and other correspondence with the Company’s regulators.

/s/ PricewaterhouseCoopers LLPPhiladelphia, PennsylvaniaFebruary 19, 2025

We have served as the Company’s auditor since 1948.

78

American Water Works Company, Inc. and Subsidiary Companies

Consolidated Balance Sheets 

(In millions, except share and per share data) 

December 31, 2024December 31, 2023ASSETSProperty, plant and equipment$35,059 $32,189 Accumulated depreciation(7,021)(6,751)Property, plant and equipment, net28,038 25,438 Current assets:  Cash and cash equivalents96 330 Restricted funds29 34 Accounts receivable, net of allowance for uncollectible accounts of $53 and $51, respectively416 339 Income tax receivable25 86 Unbilled revenues315 302 Materials and supplies103 112 Other231 186 Total current assets1,215 1,389 Regulatory and other long-term assets:  Regulatory assets1,150 1,106 Secured seller promissory note from the sale of the Homeowner Services Group795 720 Operating lease right-of-use assets89 86 Goodwill1,144 1,143 Other399 416 Total regulatory and other long-term assets3,577 3,471 Total assets$32,830 $30,298 

The accompanying notes are an integral part of these Consolidated Financial Statements