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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating Activities    
Net Income $ 61,884 $ 63,646
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 52,096 51,532
Depreciation and accretion included in other costs 8,562 8,280
Deferred income taxes 8,297 16,216
Realized gain on commodity contracts and sale of assets (883) (7,247)
Unrealized (gain) loss on investments/commodity contracts (821) 2,358
Employee benefits and compensation 315 (780)
Share-based compensation 4,857 4,705
Changes in assets and liabilities:    
Accounts receivable and accrued revenue 31,866 30,692
Propane inventory, storage gas and other inventory 2,968 (3,338)
Regulatory assets/liabilities, net 33,492 (27,454)
Prepaid expenses and other current assets (2,765) 5,528
Accounts payable and other accrued liabilities (11,128) (809)
Income taxes receivable/payable (2,799) (1,399)
Customer deposits and refunds 3,076 1,337
Accrued compensation (5,103) (5,445)
Other assets and liabilities, net (567) (1,812)
Net cash provided by operating activities 183,347 136,010
Investing Activities    
Property, plant and equipment expenditures (137,684) (98,028)
Proceeds from sale of assets 2,651 3,544
Environmental expenditures 710 637
Net cash used in investing activities (135,743) (97,127)
Financing Activities    
Common stock dividends (29,509) (25,867)
Issuance of stock under the Dividend Reinvestment Plan, net of offering fees (28) 4,438
Tax withholding payments related to net settled stock compensation (2,455) (2,838)
Change in cash overdrafts due to outstanding checks (2,157) (189)
Net repayments under line of credit agreements (81,697) (54,289)
Proceeds from long-term debt, net of offering fees 79,840 49,859
Repayment of long-term debt (16,009) (12,493)
Net cash used in financing activities (52,015) (41,379)
Net Increase (Decrease) in Cash and Cash Equivalents (4,411) (2,496)
Cash and Cash Equivalents—Beginning of Period 6,204 4,976
Cash and Cash Equivalents—End of Period 1,793 2,480
Payments to Acquire Businesses, Gross $ 0 $ (2,006)