XML 35 R7.htm IDEA: XBRL DOCUMENT v3.3.1.900
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities      
Net income $ 19,931,000 $ 29,780,000 $ 42,410,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 40,211,000 35,080,000 20,024,000
Amortization of deferred financing costs 3,241,000 4,383,000 3,588,000
Allowance for funds used during construction - equity (3,048,000) (1,106,000) (21,655,000)
Change in fair value of contingent consideration 0 18,357,000 841,000
Reorganization structuring fee 44,897,000    
Realized gain on sale of marketable securities (66,000)    
Equity based compensation 678,000 120,000  
Changes in assets and liabilities:      
Due from affiliates (3,350,000) (7,275,000) (17,436,000)
Inventory 662,000 (816,000) (4,414,000)
Prepaids and other current assets (6,000) (3,370,000) (1,388,000)
Accounts payable and accrued liabilities 2,644,000 7,347,000 (649,000)
Net cash provided by operating activities 105,794,000 82,500,000 21,321,000
Cash flows from investing activities      
Additions to electric plant (239,157,000) (210,791,000) (390,283,000)
Proceeds from sale of assets 41,211,000    
Sale of marketable securities 1,065,000    
Cash paid to InfraREIT, L.L.C. investors in the merger, net of cash assumed (172,400,000)    
Net cash used in investing activities (369,281,000) (210,791,000) (390,283,000)
Cash flows from financing activities      
Net proceeds from issuance of common stock upon initial public offering 493,722,000    
Members' contributions     136,886,000
Noncontrolling interest contributions     2,256,000
Proceeds from short-term borrowings 87,000,000 354,000,000 85,000,000
Repayments of short-term borrowings (253,000,000) (210,000,000) (15,000,000)
Proceeds from borrowings of long-term debt 400,000,000 11,000,000 173,000,000
Repayments of long-term debt (404,867,000) (13,934,000) (8,178,000)
Net change in restricted cash   (1,000)  
Deferred financing costs (3,914,000) (4,908,000) (1,523,000)
Dividends and distributions paid (61,595,000)   (12,175,000)
Net cash provided by financing activities 257,346,000 136,157,000 360,266,000
Net (decrease) increase in cash and cash equivalents (6,141,000) 7,866,000 (8,696,000)
Cash and cash equivalents at beginning of year 15,612,000 7,746,000 16,442,000
Cash and cash equivalents at end of year $ 9,471,000 $ 15,612,000 $ 7,746,000