XML 15 R5.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities:    
Net income $ 81,334 $ 51,780
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 75,550 68,522
Change in value of life insurance contracts (621) (3,433)
Allowance for equity funds used during construction (4,292) (5,087)
Changes in operating assets and liabilities:    
Receivables and unbilled revenue (41,374) (29,436)
Accounts payable 7,199 16,735
Other current assets (536) (3,937)
Other current liabilities 16,304 11,597
Other changes in noncurrent assets and liabilities (36,900) 21,602
Net cash provided by operating activities 96,664 128,343
Investing activities:    
Utility plant expenditures (221,261) (194,942)
Purchase of life insurance contracts (2,335) (2,216)
Business acquisition, net of cash acquired (39,544) 0
Net cash used in investing activities (263,140) (197,158)
Financing activities:    
Short-term borrowings 270,000 210,000
Repayment of short-term borrowings (70,000) (120,000)
Issuance of long-term debt, net of expenses 0 398,431
Repayment of long-term debt (1,535) (401,630)
Advances and contributions in aid of construction 19,862 21,266
Refunds of advances for construction (7,017) (5,560)
Repurchase of common stock (1,578) (2,355)
Issuance of common stock 58,573 1,278
Dividends paid (31,177) (28,507)
Net cash provided by financing activities 237,128 72,923
Change in cash, cash equivalents, and restricted cash 70,652 4,108
Cash, cash equivalents, and restricted cash at beginning of period 43,298 47,715
Cash, cash equivalents, and restricted cash at end of period 113,950 51,823
Supplemental information:    
Cash paid for interest (net of amounts capitalized) 21,862 22,060
Supplemental disclosure of non-cash activities:    
Accrued payables for investments in utility plant 47,015 31,676
Utility plant contribution by developers $ 22,762 $ 23,955