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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating Activities    
Net Income $ 46,168 $ 36,344
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 16,909 17,183
Depreciation and accretion included in other costs 4,016 2,834
Deferred income taxes 11,905 2,453
Realized (loss) on commodity contracts and sale of assets (1,811) (284)
Unrealized (gain) loss on investments/commodity contracts (830) (551)
Employee benefits and compensation (24) 119
Share-based compensation 2,113 2,408
Changes in assets and liabilities:    
Accounts receivable and accrued revenue 7,806 5,641
Propane inventory, storage gas and other inventory 4,769 5,373
Regulatory assets/liabilities, net 10,059 24,607
Prepaid expenses and other current assets 2,572 3,985
Accounts payable and other accrued liabilities (10,114) (21,166)
Income taxes receivable/payable 4,647 10,095
Customer deposits and refunds (2,745) (476)
Accrued compensation (9,480) (8,436)
Other assets and liabilities, net 1,195 38
Net cash provided by operating activities 97,282 81,667
Investing Activities    
Property, plant and equipment expenditures (75,512) (42,418)
Proceeds from sale of assets 250 506
Environmental expenditures 61 742
Net cash used in investing activities (74,711) (42,654)
Financing Activities    
Common stock dividends (12,884) (9,492)
Issuance of stock under the Dividend Reinvestment Plan, net of offering fees 41 0
Tax withholding payments related to net settled stock compensation (1,466) (2,455)
Change in cash overdrafts due to outstanding checks 715 (323)
Net repayments under line of credit agreements (10,213) (107,755)
Proceeds from long-term debt, net of offering fees 0 79,840
Repayment of long-term debt (1,973) (1,967)
Net cash used in financing activities (25,780) (42,152)
Net Decrease in Cash and Cash Equivalents (3,209) (3,139)
Cash and Cash Equivalents—Beginning of Period 4,904 6,204
Cash and Cash Equivalents—End of Period 1,695 3,065
Payments to Acquire Businesses, Gross 612 0
Accrued compensation (9,480) (8,436)
Net Income 46,168 36,344
Depreciation and amortization 16,909 17,183
Depreciation and accretion included in other costs 4,016 2,834
Deferred Income Tax Expense (Benefit) 11,905 2,453
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property 1,811 284
Unrealized Gain (Loss) on Commodity Contracts 830 551
Employee benefits and compensation (24) 119
Share-based compensation 2,113 2,408
Increase (Decrease) in Accounts Receivable (7,806) (5,641)
Increase (Decrease) in Inventories (4,769) (5,373)
Increase (Decrease) in Regulatory Assets and Liabilities (10,059) (24,607)
Increase (Decrease) in Prepaid Expense and Other Assets (2,572) (3,985)
Accounts payable and other accrued liabilities (10,114) (21,166)
Increase (Decrease) in Income Taxes Receivable (4,647) (10,095)
Customer deposits and refunds (2,745) (476)
Increase (Decrease) in Interest Payable, Net 10,127 1,500
Increase (Decrease) in Other Operating Assets and Liabilities, Net (1,195) (38)
Net Cash Provided by (Used in) Operating Activities 97,282 81,667
Payments to Acquire Property, Plant, and Equipment 75,512 42,418
Proceeds from sale of assets 250 506
Environmental expenditures 61 742
Net cash used in investing activities (74,711) (42,654)
Payments of Ordinary Dividends, Common Stock 12,884 9,492
Issuance of stock under the Dividend Reinvestment Plan, net of offering fees 41 0
Payment, Tax Withholding, Share-based Payment Arrangement 1,466 2,455
Change in cash overdrafts due to outstanding checks 715 (323)
Net repayments under line of credit agreements (10,213) (107,755)
Proceeds from long-term debt, net of offering fees 0 (79,840)
Repayments of Long-term Debt 1,973 1,967
Net cash used in financing activities (25,780) (42,152)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect (3,209) (3,139)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents $ 1,695 $ 3,065