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Consolidated Statments of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Operating activities:      
Net income $ 65,584 $ 72,940 $ 48,675
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 85,707 78,592 65,203
Amortization of debt premium and expenses 1,099 920 871
Changes in normalized deferred income taxes 20,909 21,087 26,818
Change in value of life insurance contracts 2,334 (3,058) (1,026)
Allowance for equity funds used during construction (3,954) (3,750) 0
Stock-based compensation 3,141 3,118 2,849
(Gain) loss on sale of non-utility property (50) (663) 146
Write-off of capital costs 410 1,293 3,221
Changes in operating assets and liabilities:      
Receivables 20,422 (31,871) (343)
Unbilled revenue (3,671) (4,528) (2,047)
Taxes, prepaid expenses, and other assets (587) (3,718) 1,276
Accounts payable 4,701 1,564 3,839
Other current liabilities (4,382) 2,164 4,056
Other changes in noncurrent assets and liabilities (12,644) 13,752 6,906
Net cash provided by operating activities 179,019 147,842 160,444
Investing activities:      
Utility plant expenditures (271,707) (259,194) (228,938)
Proceeds from sale of non-utility assets 59 666 395
TCP settlement proceeds 0 56,004 0
Life insurance benefits 3,491 1,558 495
Purchase of life insurance (4,925) (5,605) (2,857)
Net cash used in investing activities (273,082) (206,571) (230,905)
Financing activities:      
Short-term borrowings 151,000 265,000 145,100
Repayment of short-term borrowings (361,000) (87,000) (81,615)
Issuance of long-term debt, net of expenses of $617 for 2018, $0 for 2017, $177 for 2016 299,383 0 49,823
Advances and contributions in aid of construction 18,612 21,369 21,448
Refunds of advances for construction (7,297) (8,378) (6,885)
Retirement of long-term debt (16,532) (26,829) (6,996)
Repurchase of common stock (1,645) (1,505) (744)
Dividends paid (36,043) (34,563) (33,081)
Net cash provided by financing activities 46,478 128,094 87,050
Change in cash, cash equivalents, and restricted cash (47,585) 69,365 16,589
Cash, cash equivalents, and restricted cash at beginning of year 95,300 25,935 9,346
Cash, cash equivalents, and restricted cash at end of year 47,715 95,300 25,935
Cash paid (received) during the year for:      
Interest (net of amounts capitalized) 35,941 32,223 28,038
Income tax refunds 0 (1,697) 0
Supplemental disclosure of investing and financing non-cash activities:      
Accrued payables for investments in utility plant 38,807 41,017 27,150
Utility plant contributed by developers 20,609 19,898 16,824
Litigation proceeds for contamination reclassified from liabilities to depreciable plant and equipment $ 32,315 $ 2,420 $ 484