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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Operating activities:    
Net income $ 36,540 $ 45,344
Adjustments to reconcile net income to net cash:    
Depreciation and amortization 47,406 48,481
Change in value of life insurance contracts 758 (501)
Changes in operating assets and liabilities:    
Receivables (18,412) (13,781)
Accounts payable 7,245 7,239
Other current assets (2,428) (6,859)
Other current liabilities 11,939 6,904
Other changes in noncurrent assets and liabilities 33,476 13,340
Net cash provided by operating activities 116,524 100,167
Investing activities:    
Utility plant expenditures (118,309) (86,258)
Purchase of life insurance contracts (1,855) (3,207)
Change in restricted cash (241) 354
Net cash used in investing activities (120,405) (89,111)
Financing activities:    
Short-term borrowings 82,500 99,900
Repayment of short-term borrowings (25,000) (85,000)
Debt issuance costs (1,197) 0
Proceeds from long-term debt 50 0
Repayment of long-term debt (2,878) (4,604)
Advances and contributions in aid of construction 10,741 8,780
Refunds of advances for construction (5,050) (4,858)
Dividends paid (24,047) (23,295)
Net cash provided by (used in) financing activities 35,119 (9,077)
Change in cash and cash equivalents 31,238 1,979
Cash and cash equivalents at beginning of period 19,587 27,506
Cash and cash equivalents at end of period 50,825 29,485
Supplemental information:    
Cash paid for interest (net of amounts capitalized) 13,618 14,102
Income tax refunds 0 (6,000)
Supplemental disclosure of non-cash activities:    
Accrued payables for investments in utility plant 24,856 16,308
Utility plant contribution by developers $ 5,573 $ 8,148