XML 31 R7.htm IDEA: XBRL DOCUMENT v3.6.0.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities      
Net income $ 69,301,000 $ 19,931,000 $ 29,780,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 46,704,000 40,211,000 35,080,000
Amortization of deferred financing costs 4,014,000 3,241,000 4,383,000
Allowance for funds used during construction — other funds (3,728,000) (3,048,000) (1,106,000)
Change in fair value of contingent consideration     18,357,000
Reorganization structuring fee   44,897,000  
Realized gain on sale of marketable securities   (66,000)  
Equity based compensation 978,000 678,000 120,000
Changes in assets and liabilities:      
Due from affiliates (1,382,000) (3,350,000) (7,275,000)
Inventory (545,000) 662,000 (816,000)
Prepaids and other current assets (166,000) (6,000) (3,370,000)
Accounts payable and accrued liabilities 7,958,000 2,644,000 7,347,000
Net cash provided by operating activities 123,134,000 105,794,000 82,500,000
Cash flows from investing activities      
Additions to electric plant (231,312,000) (239,157,000) (210,791,000)
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 (231,312,000) (369,281,000) (210,791,000)
Cash flows from financing activities      
Net proceeds from issuance of common stock upon initial public offering   493,722,000  
Proceeds from short-term borrowings 139,500,000 87,000,000 354,000,000
Repayments of short-term borrowings (56,000,000) (253,000,000) (210,000,000)
Proceeds from borrowings of long-term debt 100,000,000 400,000,000 11,000,000
Repayments of long-term debt (7,423,000) (404,867,000) (13,934,000)
Net change in restricted cash     (1,000)
Deferred financing costs (649,000) (3,914,000) (4,908,000)
Dividends and distributions paid (59,109,000) (61,595,000) 0
Net cash provided by financing activities 116,319,000 257,346,000 136,157,000
Net increase (decrease) in cash and cash equivalents 8,141,000 (6,141,000) 7,866,000
Cash and cash equivalents at beginning of year 9,471,000 15,612,000 7,746,000
Cash and cash equivalents at end of year $ 17,612,000 $ 9,471,000 $ 15,612,000