XML 63 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Operating activities:      
Net income $ 55,681 $ 54,971 $ 47,396
Adjustments to reconcile net income to cash flows from operating activities:      
Depreciation and amortization including regulatory items 71,160 79,751 71,076
Pension and other postretirement benefit costs, net of contributions 1,689 (20,379) (3,683)
Deferred income taxes and unamortized investment tax credit, net 31,899 45,051 26,880
Allowance for equity funds used during construction (1,147) (294) (4,538)
Stock compensation expense 2,285 2,147 3,478
Non-cash loss on derivatives 4,174 1,187 1,853
Other (16) 381  
Cash flows impacted by changes in:      
Accounts receivable and accrued unbilled revenues (688) 10,342 (11,211)
Fuel, materials and supplies 369 (16,682) (1,585)
Prepaid expenses, other current assets and deferred charges (9,238) (23,163) (19,606)
Accounts payable and accrued liabilities (1,297) (318) (6,179)
Interest, taxes accrued and customer deposits 875 (980) 1,522
Other liabilities and other deferred credits 3,360 3,172 3,954
SWPA minimum flows payment     26,564
Accumulated provision - rate refunds   (578)  
Net cash provided by operating activities 159,106 134,608 135,921
Investing activities:      
Capital expenditures - regulated (134,272) (99,162) (106,388)
Capital expenditures and other investments - non-regulated (2,670) (3,375) (2,817)
Restricted cash (1) (2,586) (1,771)
Total net cash used in investing activities (136,943) (105,123) (110,976)
Financing activities:      
Proceeds from first mortgage bonds, net 88,000   149,635
Long-term debt issuance costs (1,074)   (1,758)
Proceeds from issuance of common stock, net of issuance costs 8,114 5,884 60,239
Repayment of first mortgage bonds (88,029)   (50,000)
Redemption of trust preferred securities     (50,000)
Redemption of senior notes     (48,304)
Net short-term borrowings (repayments) 12,000 (12,000) (26,500)
Dividends (42,273) (26,732) (51,996)
Other (934) (1,754) (1,356)
Net cash used in financing activities (24,196) (34,602) (20,040)
Net increase (decrease) in cash and cash equivalents (2,033) (5,117) 4,905
Cash and cash equivalents, beginning of year 5,408 10,525 5,620
Cash and cash equivalents, end of year 3,375 5,408 10,525
Supplemental cash flow information:      
Interest paid 38,802 41,088 43,044
Income taxes (refunded) paid, net of refund (592) (14,300) 11,264
Supplementary non-cash investing activities:      
Change in accrued additions to property, plant and equipment not reported above 9,345 (1,387) (3,846)
Capital lease obligations for purchase of new equipment   $ 29 $ 2,696