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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 [1] $ 67,830 $ 88,014
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation of property, plant and equipment [1] 91,731 86,397
Other amortization [1] 4,792 4,014
Provision for loan losses [1] 2,439 2,016
Loans receivable originated and purchased, held for sale [1] (168,921) (69,656)
Proceeds from sale of loans receivable, held for sale [1] 173,267 75,040
Increase (decrease) in deferred income taxes [1] (4,463) 44,494
Share-based compensation expense [1] 3,769 5,206
Excess tax benefits from share-based payment arrangements [1] (984) (267)
Allowance for equity funds used during construction [1] (3,309) (2,996)
Change in cash overdraft [1] 193 (1,038)
Changes in assets and liabilities    
Decrease (increase) in accounts receivable and unbilled revenues, net [1] 44,489 (2,986)
Increase in fuel oil stock [1] (2,362) (27,206)
Increase in regulatory assets [1] (19,976) (17,731)
Increase (decrease) in accounts, interest and dividends payable [1] 8,504 (40,230)
Change in prepaid and accrued income taxes and utility revenue taxes [1] (4,390) (32,510)
Increase (decrease) in defined benefit pension and other postretirement benefit plans liability [1] 218 (1,714)
Change in other assets and liabilities [1] (24,455) (38,540)
Net cash provided by operating activities [1] 168,372 70,307
Cash flows from investing activities    
Available-for-sale investment securities purchased [1] (208,110) (125,531)
Principal repayments on available-for-sale investment securities [1] 63,568 33,202
Proceeds from sale of available-for-sale investment securities [1] 0 79,564
Redemption of stock from Federal Home Loan Bank [1] 58,623 11,683
Net increase in loans held for investment [1] (23,206) (137,122)
Proceeds from sale of real estate acquired in settlement of loans [1] 1,258 2,162
Capital expenditures [1] (206,816) (173,866)
Contributions in aid of construction [1] 19,089 13,209
Other [1] 3,819 485
Net cash used in investing activities [1] (291,775) (296,214)
Cash flows from financing activities    
Net increase in deposit liabilities [1] 179,856 152,383
Net increase in short-term borrowings with original maturities of three months or less [1] 5,571 79,693
Net increase (decrease) in retail repurchase agreements [1] 13,508 (2,053)
Proceeds from other bank borrowings [1] 10,000 0
Proceeds from issuance of long-term debt [1] 0 125,000
Repayment of long-term debt [1] 0 (100,000)
Excess tax benefits from share-based payment arrangements [1] 984 267
Net proceeds from issuance of common stock [1] 104,469 3,048
Common stock dividends [1] (65,140) (62,916)
Preferred stock dividends of subsidiaries [1] (946) (946)
Other [1] 246 (228)
Net cash provided by financing activities [1] 248,548 194,248
Net increase (decrease) in cash and cash equivalents [1] 125,145 (31,659)
Cash and cash equivalents, beginning of period [1] 175,542 220,036
Cash and cash equivalents, end of period [1] $ 300,687 $ 188,377
[1] As restated - See Note 1, “Basis of presentation - Restatement of previously issued financial statements.”