XML 57 R9.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Cash flows from operating activities    
Net income $ 123,920 $ 126,239
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation of property, plant and equipment 120,355 112,946
Other amortization 2,352 4,811
Provision for loan losses 953 9,504
Loans receivable originated and purchased, held for sale (199,772) (304,289)
Proceeds from sale of loans receivable, held for sale 223,221 302,844
Gain on sale of credit card portfolio (2,251) 0
Change in deferred income taxes 60,580 82,582
Excess tax benefits from share-based payment arrangements (469) (65)
Allowance for equity funds used during construction (4,030) (5,548)
Changes in assets and liabilities    
Decrease (increase) in accounts receivable and unbilled revenues, net 12,740 (30,610)
Decrease (increase) in fuel oil stock 24,332 (31,372)
Increase in regulatory assets (53,314) (57,793)
Decrease in accounts, interest and dividends payable (21,708) (5,905)
Decrease in prepaid and accrued income taxes and utility revenue taxes (19,212) (5,121)
Contributions to defined benefit pension and other postretirement benefit plans (62,279) (64,006)
Other increase in defined benefit pension and other postretirement benefit plans liability 61,770 49,950
Change in other assets and liabilities (20,462) (62,563)
Net cash provided by (used in) operating activities 246,726 121,604
Cash flows from investing activities    
Available-for-sale investment and mortgage-related securities purchased (39,721) (146,794)
Principal repayments on available-for-sale investment and mortgage-related securities 84,487 104,310
Proceeds from sale of available-for-sale investment and mortgage-related securities 71,367 3,548
Net increase in loans held for investment (293,996) (75,982)
Proceeds from sale of real estate acquired in settlement of loans 8,777 9,659
Capital expenditures (247,392) (225,961)
Contributions in aid of construction 23,633 33,106
Proceeds from sale of credit card portfolio 26,386 0
Other 3,035 865
Net cash used in investing activities (363,424) (297,249)
Cash flows from financing activities    
Net increase in deposit liabilities 80,926 56,756
Net increase in short-term borrowings with original maturities of three months or less 47,648 13,398
Net decrease in retail repurchase agreements (6,314) (22,011)
Proceeds from other bank borrowings 120,000 0
Repayments of other bank borrowings (70,000) 0
Proceeds from issuance of long-term debt 50,000 457,000
Repayment of long-term debt (50,000) (368,500)
Excess tax benefits from share-based payment arrangements 469 65
Net proceeds from issuance of common stock 18,383 16,881
Common stock dividends (73,584) (71,966)
Preferred stock dividends of subsidiaries (1,417) (1,417)
Other (4,033) (6,314)
Net cash provided by (used in) financing activities 112,078 73,892
Net decrease in cash and cash equivalents (4,620) (101,753)
Cash and cash equivalents, beginning of period 219,662 270,265
Cash and cash equivalents, end of period $ 215,042 $ 168,512