XML 19 R7.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating Activities    
Net Income $ 60,754 $ 49,146
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 46,460 42,793
Depreciation and accretion included in other costs 7,668 7,062
Deferred income taxes 18,059 22,184
Gain on sale of discontinued operations 0 (200)
Realized gain on commodity contracts and sale of assets (6,255) (4,876)
Unrealized (gain) loss on investments/commodity contracts (949) (432)
Employee benefits and compensation (519) 32
Share-based compensation 4,620 3,654
Changes in assets and liabilities:    
Accounts receivable and accrued revenue 22,439 10,255
Propane inventory, storage gas and other inventory (4,396) 2,824
Regulatory assets/liabilities, net (6,562) (2,284)
Prepaid expenses and other current assets (6,813) 1,135
Accounts payable and other accrued liabilities 18,325 (924)
Income taxes (payable) receivable 183 (6,809)
Customer deposits and refunds 2,480 1,572
Accrued compensation (740) (5,506)
Other assets and liabilities, net (1,970) (3,746)
Net cash provided by operating activities 152,784 115,880
Investing Activities    
Property, plant and equipment expenditures (148,213) (123,421)
Proceeds from sale of assets 727 4,320
Proceeds from the sale of discontinued operations 0 200
Environmental expenditures 590 2,021
Net cash used in investing activities (148,076) (136,551)
Financing Activities    
Common stock dividends (23,287) (20,044)
Issuance of stock under the Dividend Reinvestment Plan, net of offering fees 7,069 19,731
Tax withholding payments related to net settled stock compensation (1,478) (977)
Change in cash overdrafts due to outstanding checks (508) (2,310)
Net advances (repayments) under line of credit agreements 16,392 (29,385)
Proceeds from long-term debt, net of offering fees 9,590 89,827
Repayment of long-term debt (10,099) (40,100)
Net cash (used in) / provided by financing activities (2,321) 16,742
Net Increase (Decrease) in Cash and Cash Equivalents 2,387 (3,929)
Cash and Cash Equivalents—Beginning of Period 3,499 6,985
Cash and Cash Equivalents—End of Period 5,886 3,056
Payments to Acquire Businesses, Gross $ 0 $ (15,629)