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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating Activities    
Net Income $ 34,466 $ 28,930
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 15,365 12,252
Depreciation and accretion included in other costs 2,568 2,361
Deferred income taxes 6,334 5,738
Realized gain on commodity contracts and sale of assets (3,514) (4,458)
Unrealized (gain) loss on investments/commodity contracts (389) 1,511
Employee benefits and compensation (173) 11
Share-based compensation 1,876 1,056
Changes in assets and liabilities:    
Accounts receivable and accrued revenue (484) 8,139
Propane inventory, storage gas and other inventory 1,371 3,921
Regulatory assets/liabilities, net 14,123 7,309
Prepaid expenses and other current assets 4,171 3,359
Accounts payable and other accrued liabilities 766 (4,243)
Income taxes (payable) receivable 6,093 4,820
Customer deposits and refunds (847) (1,817)
Accrued compensation (5,105) (8,766)
Other assets and liabilities, net 3,761 (1,315)
Net cash provided by operating activities 80,382 58,808
Investing Activities    
Property, plant and equipment expenditures (51,994) (35,182)
Proceeds from sale of assets 394 4,106
Environmental expenditures 247 422
Net cash used in investing activities (51,847) (31,498)
Financing Activities    
Common stock dividends (7,513) (6,483)
Issuance of stock under the Dividend Reinvestment Plan, net of offering fees 2,053 192
Tax withholding payments related to net settled stock compensation (1,478) (977)
Change in cash overdrafts due to outstanding checks 7 (1,747)
Net repayments under line of credit agreements (19,528) 8,715
Proceeds from issuance of long-term debt, net of offering fees 0 (13)
Repayment of long-term debt 0 (30,000)
Net cash used in financing activities (26,459) (30,313)
Net Increase (Decrease) in Cash and Cash Equivalents 2,076 (3,003)
Cash and Cash Equivalents—Beginning of Period 3,499 6,985
Cash and Cash Equivalents—End of Period $ 5,575 $ 3,982