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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities    
Net income $ 77,426 $ 67,830
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation of property, plant and equipment 97,148 91,731
Other amortization 4,840 4,792
Provision for loan losses 9,519 2,439
Loans receivable originated and purchased, held for sale (98,004) (168,921)
Proceeds from sale of loans receivable, held for sale 98,457 173,267
Deferred income taxes 21,738 (4,463)
Share-based compensation expense 2,011 3,769
Excess tax benefits from share-based payment arrangements (383) (984)
Allowance for equity funds used during construction (3,736) (3,309)
Change in cash overdraft 0 193
Other 2,982 1,777
Changes in assets and liabilities    
Decrease in accounts receivable and unbilled revenues, net 12,894 44,489
Decrease (increase) in fuel oil stock 9,644 (2,362)
Increase in regulatory assets (11,752) (19,976)
Increase in accounts, interest and dividends payable 20,837 8,504
Change in prepaid and accrued income taxes and utility revenue taxes 622 (4,390)
Increase in defined benefit pension and other postretirement benefit plans liability 95 218
Change in other assets and liabilities (18,878) (26,232)
Net cash provided by operating activities 225,460 168,372
Cash flows from investing activities    
Available-for-sale investment securities purchased (176,598) (208,110)
Principal repayments on available-for-sale investment securities 102,716 63,568
Proceeds from sale of available-for-sale investment securities 16,423 0
Purchase of stock from Federal Home Loan Bank (2,773) 0
Redemption of stock from Federal Home Loan Bank 2,233 58,623
Net increase in loans held for investment (155,930) (23,206)
Proceeds from sale of commercial loans 14,105 0
Proceeds from sale of real estate acquired in settlement of loans 553 1,258
Capital expenditures (203,631) (206,816)
Contributions in aid of construction 16,810 19,089
Other 1,106 3,819
Net cash used in investing activities (384,986) (291,775)
Cash flows from financing activities    
Net increase in deposit liabilities 206,949 179,856
Net increase in short-term borrowings with original maturities of three months or less 12,922 5,571
Net increase (decrease) in retail repurchase agreements (27,158) 13,508
Proceeds from other bank borrowings 55,835 10,000
Repayments of other bank borrowings (84,369) 0
Proceeds from issuance of long-term debt 75,000 0
Repayment of long-term debt (75,000) 0
Excess tax benefits from share-based payment arrangements 383 984
Net proceeds from issuance of common stock 7,668 104,469
Common stock dividends (55,591) (65,140)
Preferred stock dividends of subsidiaries (946) (946)
Other 563 246
Net cash provided by financing activities 116,256 248,548
Net increase (decrease) in cash and cash equivalents (43,270) 125,145
Cash and cash equivalents, beginning of period 300,478 175,542
Cash and cash equivalents, end of period $ 257,208 $ 300,687