XML 19 R7.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating Activities    
Net Income $ 64,439 $ 52,477
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 34,787 34,486
Depreciation and accretion included in other costs 8,196 5,714
Deferred income taxes 23,810 5,695
Realized loss on commodity contracts and sale of assets (3,056) (1,032)
Unrealized gain on investments and commodity contracts (1,006) (1,131)
Employee benefits and compensation (48) 218
Share-based compensation 4,512 2,919
Changes in assets and liabilities:    
Accounts receivable and accrued revenue 30,070 30,812
Propane inventory, storage gas and other inventory 4,894 5,052
Regulatory assets and liabilities, net 12,221 28,796
Prepaid expenses and other current assets 4,319 2,953
Accounts payable and other accrued liabilities (4,624) (18,273)
Income taxes receivable/payable (6,036) 1,265
Customer deposits and refunds (1,652) 1,316
Accrued compensation (4,192) (5,061)
Other assets and liabilities, net 4,341 2,697
Net cash provided by operating activities 167,378 148,983
Investing Activities    
Property, plant and equipment expenditures (157,960) (90,265)
Proceeds from sale of assets 1,767 2,034
Environmental expenditures 205 760
Net cash used in investing activities (155,795) (88,991)
Financing Activities    
Common stock dividends (25,827) (19,009)
Issuance of stock under the Dividend Reinvestment Plan, net of offering fees 2,471 (14)
Tax withholding payments related to net settled stock compensation (1,466) (2,455)
Change in cash overdrafts due to outstanding checks 235 (2,157)
Net borrowings (repayments) under line of credit agreements 27,003 (104,194)
Proceeds from long-term debt, net of offering fees 0 79,840
Repayment of long-term debt (12,473) (14,038)
Net cash used in financing activities (10,057) (62,027)
Net Increase (Decrease) in Cash and Cash Equivalents 1,526 (2,035)
Cash and Cash Equivalents—Beginning of Period 4,904 6,204
Cash and Cash Equivalents—End of Period 6,430 4,169
Payments to Acquire Businesses, Gross 603 0
Accrued compensation (4,192) (5,061)
Net Income 64,439 52,477
Depreciation and amortization 34,787 34,486
Depreciation and accretion included in other costs 8,196 5,714
Deferred Income Tax Expense (Benefit) 23,810 5,695
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property 3,056 1,032
Unrealized Gain (Loss) on Commodity Contracts 1,006 1,131
Employee benefits and compensation (48) 218
Share-based compensation 4,512 2,919
Other Noncash Expense (229) 0
Increase (Decrease) in Accounts Receivable (30,070) (30,812)
Increase (Decrease) in Inventories (4,894) (5,052)
Increase (Decrease) in Regulatory Assets and Liabilities (12,221) (28,796)
Increase (Decrease) in Prepaid Expense and Other Assets (4,319) (2,953)
Accounts payable and other accrued liabilities (4,624) (18,273)
Increase (Decrease) in Income Taxes Receivable 6,036 (1,265)
Customer deposits and refunds (1,652) 1,316
Increase (Decrease) in Interest Payable, Net (3,368) 80
Increase (Decrease) in Other Operating Assets and Liabilities, Net (4,341) (2,697)
Net Cash Provided by (Used in) Operating Activities 167,378 148,983
Payments to Acquire Property, Plant, and Equipment 157,960 90,265
Proceeds from sale of assets 1,767 2,034
Environmental expenditures 205 760
Net cash used in investing activities (155,795) (88,991)
Payments of Ordinary Dividends, Common Stock 25,827 19,009
Issuance of stock under the Dividend Reinvestment Plan, net of offering fees 2,471 (14)
Payment, Tax Withholding, Share-based Payment Arrangement 1,466 2,455
Change in cash overdrafts due to outstanding checks 235 (2,157)
Net borrowings (repayments) under line of credit agreements 27,003 (104,194)
Proceeds from long-term debt, net of offering fees 0 (79,840)
Repayments of Long-term Debt 12,473 14,038
Net cash used in financing activities (10,057) (62,027)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect 1,526 (2,035)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents $ 6,430 $ 4,169