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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities      
Net income $ 161,767 $ 170,019 $ 163,599
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation of property, plant and equipment 183,966 172,762 160,061
Other amortization 11,619 10,282 7,324
Provision for loan losses 6,275 6,126 1,507
Impairment of utility assets 6,021 1,866 0
Other 1,672 758 0
Loans receivable originated and purchased, held for sale (268,279) (155,755) (249,022)
Proceeds from sale of loans receivable, held for sale 275,296 155,030 273,775
Gain on sale of credit card portfolio 0 0 (2,251)
Increase in deferred income taxes 41,433 104,226 80,145
Share-based compensation expense 6,542 9,287 7,780
Excess tax benefits from share-based payment arrangements (978) (277) (430)
Allowance for equity funds used during construction (6,928) (6,771) (5,561)
Change in cash overdraft 0 (1,038) 1,038
Changes in assets and liabilities      
Decrease in accounts receivable and unbilled revenues, net 62,304 33,089 16,038
Decrease in fuel oil stock 34,830 28,041 27,332
Increase in regulatory assets (24,182) (17,000) (65,461)
Increase (decrease) in accounts, interest and dividends payable (52,663) (67,189) 12,406
Change in prepaid and accrued income taxes and utility revenue taxes (42,596) (39,091) (19,406)
Increase (decrease) in defined benefit pension and other postretirement benefit plans liability 852 22,251 (33,014)
Change in other assets and liabilities (41,071) (101,196) (14,292)
Net cash provided by operating activities 355,880 325,420 361,568
Cash flows from investing activities      
Available-for-sale investment securities purchased (429,262) (183,778) (112,654)
Principal repayments on available-for-sale investment securities 153,271 91,013 158,558
Proceeds from sale of available-for-sale investment securities 0 79,564 71,367
Purchase of stock from Federal Home Loan Bank (1,600) 0 0
Redemption of stock from Federal Home Loan Bank 60,223 23,244 3,476
Net increase in loans held for investment (181,343) (283,810) (398,426)
Proceeds from sale of real estate acquired in settlement of loans 1,329 3,213 9,212
Proceeds from sale of real estate held for sale 7,283 0 0
Capital expenditures (363,804) (364,826) (389,438)
Contributions in aid of construction 40,239 41,806 32,160
Proceeds from sale of credit card portfolio 0 0 26,386
Other 7,940 1,125 1,177
Net cash used in investing activities (705,724) (592,449) (598,182)
Cash flows from financing activities      
Net increase in deposit liabilities 401,839 250,938 142,561
Net increase (decrease) in short-term borrowings with original maturities of three months or less (15,909) 13,490 21,789
Net increase (decrease) in retail repurchase agreements 37,925 (9,465) (1,418)
Proceeds from other bank borrowings 50,000 130,601 130,000
Repayments of other bank borrowings (50,000) (75,000) (80,000)
Proceeds from issuance of long-term debt 80,000 125,000 286,000
Repayment of long-term debt 0 (111,400) (216,000)
Excess tax benefits from share-based payment arrangements 978 277 430
Net proceeds from issuance of common stock 104,435 26,898 55,086
Common stock dividends (131,765) (126,458) (98,383)
Preferred stock dividends of subsidiaries (1,890) (1,890) (1,890)
Other (833) (456) (1,187)
Net cash used in financing activities 474,780 222,535 236,988
Net increase (decrease) in cash and equivalents 124,936 (44,494) 374
Cash and cash equivalents, January 1 175,542 220,036 219,662
Cash and cash equivalents, December 31 $ 300,478 $ 175,542 $ 220,036