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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash Flows from Operating Activities      
Net Income $ 201,245 $ 191,405 $ 186,515
Adjustments to Reconcile Net Income to Net Cash Flows from Operating Activities:      
Depreciation Expense 201,524 189,051 169,042
Amortization Expense 43,995 28,754 27,706
Amortization of Debt Issuance Costs 2,829 2,721 2,326
Use of Renewable Energy Credits for Compliance 45,815 44,517 37,141
Deferred Income Taxes 37,217 39,408 41,614
Pension and Other Postretirement Benefits Expense 15,342 14,883 17,762
Pension and Other Postretirement Benefits Funding (20,806) (21,018) (16,749)
Allowance for Equity Funds Used During Construction (17,885) (22,847) (15,222)
Regulatory Deferral, ACC Refund Order 0 (7,705) 7,705
Changes in Current Assets and Current Liabilities:      
Accounts Receivable (18,738) (19,019) 9,238
Materials, Supplies, and Fuel Inventory (18,445) (3,460) (16,236)
Regulatory Assets (59,542) 5,339 (20,934)
Other Current Assets 4,670 (8,311) (475)
Accounts Payable and Accrued Charges 14,979 (20,885) (27,776)
Income Taxes Payable (3,271) 10,245 6,072
Regulatory Liabilities (9,599) 41,287 (1,626)
Other, Net 8,724 1,689 8,140
Net Cash Flows—Operating Activities 428,054 466,054 414,243
Cash Flows from Investing Activities      
Capital Expenditures (499,405) (839,958) (607,593)
Proceeds from Sale, Springerville Common Facilities 0 29,569 0
Purchase Intangibles, Renewable Energy Credits (55,297) (53,509) (51,699)
Purchase, Other Investments 0 (8,500) 0
Contributions in Aid of Construction 5,678 4,615 6,607
Note Receivable 0 0 (1,000)
Net Cash Flows—Investing Activities (549,024) (867,783) (653,685)
Cash Flows from Financing Activities      
Proceeds from Borrowings, Revolving Credit Facility 50,000 105,000 0
Repayments of Borrowings, Revolving Credit Facility (35,000) (105,000) 0
Proceeds from Borrowings, Term Loan 0 60,000 165,000
Repayments of Borrowings, Term Loan 0 (225,000) 0
Proceeds from Issuance, Long-Term Debt—Net of Discount 322,231 645,768 0
Repayments of Long-Term Debt (250,000) (180,410) (14,700)
Dividends Paid to Parent (62,500) (75,000) (75,000)
Payments of Finance Lease Obligations 0 (17,087) (10,890)
Payment of Debt Issuance Costs (4,382) (6,327) (757)
Contributions from Parent 50,000 250,000 50,000
Other 2,107 3,316 1,514
Net Cash Flows—Financing Activities 72,456 455,260 115,167
Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash (48,514) 53,531 (124,275)
Cash, Cash Equivalents, and Restricted Cash, Beginning of Period 82,003 28,472 152,747
Cash, Cash Equivalents, and Restricted Cash, End of Period $ 33,489 $ 82,003 $ 28,472