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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Unaudited - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Operating activities:    
Net income $ 53,512 $ 33,585
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 59,016 48,946
Change in value of life insurance contracts (1,871) (915)
Allowance for equity funds used during construction (2,763) 0
Changes in operating assets and liabilities:    
Receivables and unbilled revenue (52,951) (13,352)
Accounts payable 6,712 8,940
Other current assets (4,643) (1,743)
Other current liabilities 10,939 13,982
Other changes in noncurrent assets and liabilities 41,837 34,386
Net cash provided by operating activities 109,788 123,829
Investing activities:    
Utility plant expenditures (180,442) (166,406)
Life insurance proceeds 1,558 495
Purchase of life insurance contracts (3,948) (2,710)
Change in restricted cash (679) (685)
Net cash used in investing activities (183,511) (169,306)
Financing activities:    
Short-term borrowings 185,000 105,100
Repayment of short-term borrowings (87,000) (81,615)
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 (2,797) (2,865)
Advances and contributions in aid of construction 14,964 18,186
Refunds of advances for construction (6,316) (5,194)
Repurchase of common stock (1,359) (637)
Dividends paid (25,920) (24,807)
Net cash provided by financing activities 76,572 57,991
Change in cash and cash equivalents 2,849 12,514
Cash and cash equivalents at beginning of period 25,492 8,837
Cash and cash equivalents at end of period 28,341 21,351
Supplemental information:    
Cash paid for interest (net of amounts capitalized) 17,287 13,889
Income tax refund (1,697) 0
Supplemental disclosure of non-cash activities:    
Accrued payables for investments in utility plant 31,750 26,767
Utility plant contribution by developers $ 13,022 $ 12,104