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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating activities:    
Net income $ 4,037 $ 13,202
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 40,290 36,494
Change in value of life insurance contracts 315 (356)
Allowance for equity funds used during construction (2,079) (1,797)
Changes in operating assets and liabilities:    
Receivables and accrued and unbilled revenue (10,006) (2,537)
Accounts payable (148) (21,044)
Other current assets (6,664) (4,788)
Other current liabilities 12,626 14,262
Other changes in noncurrent assets and liabilities 11,016 4,985
Net cash provided by operating activities 49,387 38,421
Investing activities:    
Utility plant expenditures (129,457) (110,103)
Other 1 207
Net cash used in investing activities (129,456) (109,896)
Financing activities:    
Short-term borrowings 160,000 170,000
Repayment of short-term borrowings (60,000) (90,000)
Repayment of long-term debt (230) (214)
Advances and contributions in aid of construction 10,144 9,497
Refunds of advances for construction (2,600) (2,317)
Repurchase of common stock (823) (1,109)
Issuance of common stock 6,880 743
Dividends paid (19,980) (20,226)
Payment for purchase of noncontrolling interest (6,951) 0
Distribution to noncontrolling interest 0 (451)
Net cash provided by financing activities 86,440 65,923
Change in cash, cash equivalents, and restricted cash 6,371 (5,552)
Cash, cash equivalents, and restricted cash at beginning of period 97,373 95,687
Cash, cash equivalents, and restricted cash at end of period 103,744 90,135
Supplemental disclosures of cash flow information:    
Cash paid for interest (net of amounts capitalized) 7,515 4,103
Supplemental disclosure of investing and financing non-cash activities:    
Accrued payables for investments in utility plant 58,664 48,093
Utility plant contributed by developers $ 7,219 $ 3,706