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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating Activities:      
Net income $ 155,176 $ 147,334 $ 129,488
Non-cash items included in net income:      
Depreciation and amortization 253,142 232,176 224,223
Provision for deferred income taxes (18,231) 11,224 44,964
Power and natural gas cost amortizations (deferrals), net (78,350) (51,847) (9,923)
Amortization of debt expense 1,974 2,606 3,237
Stock-based compensation expense 8,717 4,713 5,846
Equity-related AFUDC (6,704) (7,004) (6,970)
Pension and other postretirement benefit expense 32,173 29,077 33,812
Other regulatory assets and liabilities and deferred debits and credits (20,409) 676 10,287
Change in decoupling regulatory deferral 33,469 6,056 2,971
Realized and unrealized gains on assets and investments (50,006) (23,187) (5,170)
Other 11,957 (2,859) 2,373
Contributions to defined benefit pension plan (42,000) (42,000) (22,000)
Cash paid on settlement of interest rate swap agreements (17,035) (17,568) (33,499)
Cash received on settlement of interest rate swap agreements   324  
Changes in certain current assets and liabilities:      
Accounts and notes receivable (56,007) (46,107) (10,960)
Materials and supplies, fuel stock and stored natural gas (22,941) (17,282) (868)
Collateral posted for derivative instruments (141,014) (17,564) 1,579
Income taxes receivable (1,125) 20,199 (41,363)
Other current assets (6,613) 930 (2,401)
Accounts payable 65,928 33,369 (10,152)
Other current liabilities 22,106 4,074 15,530
Net cash provided by operating activities 124,207 267,340 331,004
Investing Activities:      
Utility property capital expenditures (excluding equity-related AFUDC) (451,995) (439,939) (404,306)
Issuance of notes receivable (2,745) (1,841) (4,393)
Equity and property investments (10,642) (16,001) (5,925)
Proceeds from sale of investments 1,000 8,306 6,786
Other 4,144 4,559 (2,905)
Net cash used in investing activities (460,238) (444,916) (410,743)
Financing Activities:      
Net increase (decrease) in short-term borrowings 179,000 81,000 17,200
Proceeds from issuance of long-term debt 399,856 140,000 165,000
Maturity of long-term debt and finance leases (253,085) (2,935) (54,800)
Issuance of common stock, net of issuance costs 137,778 89,998 72,200
Cash dividends paid (129,061) (118,211) (110,254)
Other (7,197) (4,304) (5,307)
Net cash provided by financing activities 327,291 185,548 84,039
Net increase (decrease) in cash and cash equivalents (8,740) 7,972 4,300
Cash and cash equivalents at beginning of year 22,168 14,196 9,896
Cash and cash equivalents at end of year 13,428 22,168 14,196
Cash paid (received) during the year:      
Interest 107,468 98,592 97,717
Income taxes paid 2,251 3,652 1,901
Income tax refunds (86) (22,330) (918)
Non-cash financing and investing activities:      
Accounts payable for capital expenditures $ 27,708 $ 23,938 $ 32,039