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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating Activities:    
Net income $ 155,787 $ 138,112
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 123,556 111,037
Deferred income taxes and investment tax credits (45,251) (32,353)
Changes in regulatory assets and liabilities 100,003 84,333
Pension and postretirement benefit plan expense 22,608 22,787
Contributions to pension and postretirement benefit plans (2,864) (2,616)
Earnings of unconsolidated equity-method investments (2,024) (1,902)
Distributions from equity-method investments 950 0
Allowance for equity funds used during construction (29,608) (24,431)
Other non-cash adjustments to net income, net 5,238 2,896
Change in:    
Accounts receivable and unbilled revenues (28,617) (24,211)
Prepayments 8,428 (2,624)
Materials, supplies, and fuel stock (4,803) (39,562)
Accounts and wages payable (47,396) (43,666)
Taxes accrued/receivable 37,508 37,039
Other assets and liabilities 7,713 31,208
Net cash provided by operating activities 301,228 256,047
Investing Activities:    
Additions to property, plant and equipment, net (534,629) (605,902)
Payments received from transmission project joint funding partners 62,022 39,912
Other (1,089) 7,573
Net cash used in investing activities (473,696) (558,417)
Financing Activities:    
Issuance of long-term debt 400,000 0
Discount on issuance of long-term debt (3,072) 0
Retirement of long-term debt (19,885) 0
Payments on finance lease liabilities (729) 0
Dividends on common stock (93,461) (84,886)
Issuance of Common Stock 3,054 233,178
Tax withholdings on net settlements of share-based awards (3,294) (3,694)
Other (4,522) (98)
Net cash provided by financing activities 278,091 144,500
Net increase (decrease) in cash and cash equivalents 105,623 (157,870)
Cash and cash equivalents at beginning of the period 368,865 327,429
Cash and cash equivalents at end of the period 474,488 169,559
Supplemental Disclosure of Cash Flow Information:    
Cash paid for income taxes 480 1,510
Cash paid for interest (net of amount capitalized) 61,414 55,910
Non-cash investing and financing activities:    
Additions to property, plant and equipment in accounts payable 168,635 101,178
Right-of-use asset obtained in exchange for finance lease liability $ 226,618 $ 0