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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating Activities    
Net Income $ 36,933 $ 34,466
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 16,977 15,365
Depreciation and accretion included in other costs 2,744 2,568
Deferred income taxes 7,398 6,334
Realized gain on commodity contracts and sale of assets (4,274) (3,514)
Unrealized loss (gain) on investments/commodity contracts 541 (389)
Employee benefits and compensation (260) (173)
Share-based compensation 2,213 1,876
Changes in assets and liabilities:    
Accounts receivable and accrued revenue 7,532 (484)
Propane inventory, storage gas and other inventory 4,031 1,371
Regulatory assets/liabilities, net 5,774 14,123
Prepaid expenses and other current assets 6,626 4,171
Accounts payable and other accrued liabilities (12,918) 766
Income taxes (payable) receivable 6,134 6,093
Customer deposits and refunds (3,114) (847)
Accrued compensation (6,392) (5,105)
Other assets and liabilities, net (825) 3,761
Net cash provided by operating activities 69,120 80,382
Investing Activities    
Property, plant and equipment expenditures (29,887) (51,994)
Proceeds from sale of assets 219 394
Environmental expenditures 267 247
Net cash used in investing activities (29,935) (51,847)
Financing Activities    
Common stock dividends (8,274) (7,513)
Issuance of stock under the Dividend Reinvestment Plan, net of offering fees 3,242 2,053
Tax withholding payments related to net settled stock compensation (2,838) (1,478)
Change in cash overdrafts due to outstanding checks 1,223 7
Net advances (repayments) under line of credit agreements (82,008) (19,528)
Proceeds from long-term debt, net of offering fees 49,915 0
Repayment of long-term debt (213) 0
Net cash used in financing activities (38,953) (26,459)
Net Increase in Cash and Cash Equivalents 232 2,076
Cash and Cash Equivalents—Beginning of Period 4,976 3,499
Cash and Cash Equivalents—End of Period $ 5,208 $ 5,575