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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities      
Net income $ 219,772,000 $ 203,664,000 $ 167,187,000
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation of property, plant and equipment 229,858,000 214,036,000 200,658,000
Other amortization 48,255,000 41,593,000 21,340,000
Provision for loan losses 23,480,000 14,745,000 10,901,000
Loans originated, held for sale (285,042,000) (109,537,000) (115,104,000)
Proceeds from sale of loans, held for sale 277,119,000 112,182,000 127,951,000
Gain on sale of real estate, held for sale (10,762,000) 0 0
Deferred income taxes (15,085,000) (9,368,000) 37,835,000
Share-based compensation expense 9,986,000 7,792,000 5,404,000
Allowance for equity funds used during construction (11,987,000) (10,877,000) (12,483,000)
Other 10,822,000 (4,219,000) (3,324,000)
Changes in assets and liabilities      
Decrease (increase) in accounts receivable and unbilled revenues, net 26,083,000 (64,321,000) (12,875,000)
Decrease (increase) in fuel oil stock (11,493,000) 7,054,000 (20,794,000)
Decrease (increase) in regulatory assets 71,262,000 9,252,000 (17,256,000)
Increase (decrease) in accounts, interest and dividends payable (3,054,000) 21,528,000 34,985,000
Change in prepaid and accrued income taxes, tax credits and utility revenue taxes (27,538,000) 29,429,000 20,685,000
Increase (decrease) in defined benefit pension and other postretirement benefit plans liability (4,482,000) 20,871,000 882,000
Change in other assets and liabilities (34,724,000) 15,488,000 (25,551,000)
Net cash provided by operating activities 512,470,000 499,312,000 420,441,000
Cash flows from investing activities      
Available-for-sale investment securities purchased (108,088,000) (224,335,000) (528,379,000)
Principal repayments on available-for-sale investment securities 272,949,000 218,930,000 220,231,000
Proceeds from sale of available-for-sale investment securities 19,810,000 0 0
Purchases of held-to-maturity investment securities (13,057,000) (103,184,000) (44,515,000)
Proceeds from repayments or maturities of held-to-maturity investment securities 15,505,000 5,720,000 0
Purchase of stock from Federal Home Loan Bank (95,636,000) (28,292,000) (2,868,000)
Redemption of stock from Federal Home Loan Bank 97,160,000 28,040,000 4,380,000
Net decrease (increase) in loans held for investment (300,210,000) (189,352,000) 15,887,000
Proceeds from sale of commercial loans 0 7,149,000 36,760,000
Proceeds from sale of real estate held for sale 21,060,000 0 0
Capital expenditures (457,520,000) (506,770,000) (430,454,000)
Contributions to low income housing investments (6,974,000) (14,499,000) (17,505,000)
Acquisition of business 0 0 (76,323,000)
Other, net 13,292,000 14,534,000 7,487,000
Net cash used in investing activities (541,709,000) (792,059,000) (815,299,000)
Cash flows from financing activities      
Net increase in deposit liabilities 113,050,000 165,880,000 341,668,000
Net increase (decrease) in short-term borrowings with original maturities of three months or less 86,718,000 (18,999,000) 67,992,000
Proceeds from issuance of short-term debt 75,000,000 25,000,000 125,000,000
Repayment of short-term debt (50,000,000) (50,000,000) (75,000,000)
Net increase in other bank borrowings with original maturities of three months or less 5,070,000 71,556,000 61,776,000
Repayment of other bank borrowings 0 (50,000,000) (63,534,000)
Proceeds from issuance of long-term debt 289,349,000 250,000,000 532,325,000
Repayment of long-term debt and funds transferred for repayment of long-term debt (287,285,000) (53,887,000) (465,000,000)
Withheld shares for employee taxes on vested share-based compensation (997,000) (996,000) (3,828,000)
Common stock dividends (139,463,000) (134,987,000) (134,873,000)
Preferred stock dividends of subsidiaries (1,890,000) (1,890,000) (1,890,000)
Other (1,836,000) (1,603,000) (6,349,000)
Net cash used in financing activities 87,716,000 200,074,000 378,287,000
Net decrease in cash and equivalents 58,477,000 (92,673,000) (16,571,000)
Cash, cash equivalents and restricted cash, January 1 169,208,000 261,881,000 278,452,000
Cash, cash equivalents and restricted cash, December 31 227,685,000 169,208,000 261,881,000
Less: Restricted cash (30,872,000) 0 0
Cash and cash equivalents, December 31 $ 196,813,000 $ 169,208,000 $ 261,881,000