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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Unaudited - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating activities:    
Net income $ 19,663 $ 10,710
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 39,328 32,701
Change in value of life insurance contracts (1,208) (336)
Allowance for equity funds used during construction (1,658) 0
Changes in operating assets and liabilities:    
Receivables and unbilled revenue (35,533) (561)
Accounts payable 3,242 4,745
Other current assets (7,048) (4,760)
Other current liabilities (747) 355
Other changes in noncurrent assets and liabilities 19,687 16,757
Net cash provided by operating activities 35,726 59,611
Investing activities:    
Utility plant expenditures (108,712) (116,155)
Life insurance proceeds 450 495
Purchase of life insurance contracts (1,216) (1,065)
Change in restricted cash (598) (653)
Net cash used in investing activities (110,076) (117,378)
Financing activities:    
Short-term borrowings 140,000 103,100
Repayment of short-term borrowings (47,000) (61,615)
Proceeds from long-term debt, net of issuance costs of $0 for 2017 and $177 for 2016 0 49,823
Repayment of long-term debt (2,407) (2,463)
Advances and contributions in aid of construction 10,312 11,463
Refunds of advances for construction (4,430) (3,472)
Repurchase of common stock (1,236) (548)
Dividends paid (17,278) (16,532)
Net cash provided by financing activities 77,961 79,756
Change in cash and cash equivalents 3,611 21,989
Cash and cash equivalents at beginning of period 25,492 8,837
Cash and cash equivalents at end of period 29,103 30,826
Supplemental information:    
Cash paid for interest (net of amounts capitalized) 15,932 13,572
Income tax refund (1,697) 0
Supplemental disclosure of non-cash activities:    
Accrued payables for investments in utility plant 28,494 25,397
Utility plant contribution by developers $ 7,212 $ 7,198