Voorhees,NJ-Based Water Utility Co American Water Works: Here's the Most Relevant Part of Its Just Released 10-K Filing: "The accumulated deferred income tax liability decreased by $1.39 billion and regulatory liabilities increased by $1.51 billion, respectively, as of December 31, 2017. For the Company’s regulated entities, substantially all of the change in deferred income taxes are recorded as either an offset to a regulatory asset or liability because changes are expected to be recovered by or refunded to customers."