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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities    
Net income $ 67,830 $ 88,014
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation of property, plant and equipment 91,731 86,397
Other amortization 4,320 4,014
Provision for loan losses 2,439 2,016
Loans receivable originated and purchased, held for sale (168,921) (69,656)
Proceeds from sale of loans receivable, held for sale 173,267 75,040
Increase in deferred income taxes 22,980 28,570
Excess tax benefits from share-based payment arrangements (984) (267)
Allowance for equity funds used during construction (3,309) (2,996)
Change in cash overdraft 193 (1,038)
Changes in assets and liabilities    
Decrease (increase) in accounts receivable and unbilled revenues, net 44,489 (2,986)
Increase in fuel oil stock (2,362) (27,206)
Increase in regulatory assets (19,976) (17,731)
Decrease in accounts, interest and dividends payable (56,076) (64,843)
Change in prepaid and accrued income taxes and utility revenue taxes (4,390) (32,510)
Increase (decrease) in defined benefit pension and other postretirement benefit plans liability 218 (1,714)
Change in other assets and liabilities (47,146) (16,909)
Net cash provided by operating activities 104,303 46,195
Cash flows from investing activities    
Available-for-sale investment securities purchased (208,110) (125,531)
Principal repayments on available-for-sale investment securities 63,568 33,202
Proceeds from sale of available-for-sale investment securities 0 79,564
Redemption of stock from Federal Home Loan Bank 58,623 11,683
Net increase in loans held for investment (23,206) (137,122)
Proceeds from sale of real estate acquired in settlement of loans 1,258 2,162
Capital expenditures (142,236) (149,253)
Contributions in aid of construction 19,089 13,209
Other 3,308 (16)
Net cash used in investing activities (227,706) (272,102)
Cash flows from financing activities    
Net increase in deposit liabilities 179,856 152,383
Net increase in short-term borrowings with original maturities of three months or less 5,571 79,693
Net increase (decrease) in retail repurchase agreements 13,508 (2,053)
Proceeds from other bank borrowings 10,000 0
Proceeds from issuance of long-term debt 0 125,000
Repayment of long-term debt 0 (100,000)
Excess tax benefits from share-based payment arrangements 984 267
Net proceeds from issuance of common stock 104,469 3,048
Common stock dividends (65,140) (62,916)
Preferred stock dividends of subsidiaries (946) (946)
Other 246 (228)
Net cash provided by financing activities 248,548 194,248
Net increase (decrease) in cash and cash equivalents 125,145 (31,659)
Cash and cash equivalents, beginning of period 175,542 220,036
Cash and cash equivalents, end of period $ 300,687 $ 188,377