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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating Activities    
Net Income $ 28,930 $ 28,664
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 12,252 11,074
Depreciation and accretion included in other costs 2,361 2,135
Deferred income taxes 5,738 3,430
Realized gain on commodity contracts and sale of assets (4,458) (363)
Unrealized loss (gain) on investments and commodity contracts 1,511 (721)
Employee benefits and compensation 11 382
Share-based compensation 1,056 487
Changes in assets and liabilities:    
Accounts receivable and accrued revenue 8,139 18,147
Propane inventory, storage gas and other inventory 3,921 7,207
Regulatory assets/liabilities, net 7,309 3,121
Prepaid expenses and other current assets 3,359 11,873
Accounts payable and other accrued liabilities (4,243) (44,783)
Income taxes receivable 4,820 6,241
Customer deposits and refunds (1,817) (4,445)
Accrued compensation (8,766) (5,548)
Other assets and liabilities, net (1,315) 3,585
Net cash provided by operating activities 58,808 40,486
Investing Activities    
Property, plant and equipment expenditures (35,182) (43,216)
Proceeds from sale of assets 4,106 115
Environmental expenditures (422) (268)
Net cash used in investing activities (31,498) (43,369)
Financing Activities    
Common stock dividends (6,483) (5,877)
Issuance (repurchase) of stock under the Dividend Reinvestment Plan 192 (183)
Tax withholding payments related to net settled stock compensation (977) (692)
Change in cash overdrafts due to outstanding checks (4,727) 84
Net borrowings (repayments) under line of credit agreements 11,695 (18,149)
Proceeds from issuance of long-term debt, net of offering fees (13) 30,000
Repayment of long-term debt and capital lease obligation (30,000) (414)
Net cash (used) provided by financing activities (30,313) 4,769
Net Increase (Decrease) in Cash and Cash Equivalents (3,003) 1,886
Cash and Cash Equivalents—Beginning of Period 6,985 6,089
Cash and Cash Equivalents—End of Period $ 3,982 $ 7,975