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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities    
Net income (loss) $ 53,702 $ (1,252,416)
Adjustments to reconcile net income (loss) to net cash provided by operating activities - continuing operations    
Loss from discontinued operations 0 24,853
Depreciation of property, plant and equipment 131,759 131,461
Other amortization 20,908 15,372
Loss on sale of a subsidiary and impairment loss on assets held for sale 13,389 0
Deferred income tax benefit (3,869) (439,853)
Share-based compensation expense 3,531 2,456
Allowance for equity funds used during construction (7,287) (6,976)
Other (2,793) 1,222
Changes in assets and liabilities    
Decrease in accounts receivable and unbilled revenues, net 13,892 100,286
Decrease (increase) in fuel oil stock (16,536) 1,188
Decrease (increase) in materials and supplies (12,890) 1,324
Increase in regulatory assets (1,608) (23,425)
Increase in regulatory liabilities 42,433 16,716
Increase in accounts, interest and dividends payable 13,354 40,664
Change in prepaid and accrued income taxes, tax credits and utility revenue taxes (38,938) (44,639)
Decrease in defined benefit pension and other postretirement benefit plans liability (3,710) (4,271)
Increase in Wildfire tort-related claims 0 1,637,000
Change in other assets and liabilities (20,921) (32,881)
Net cash provided by operating activities-continuing operations 184,416 168,081
Net cash provided by operating activities-discontinued operations 0 25,366
Net cash provided by operating activities 184,416 193,447
Cash flows from investing activities    
Proceeds from sale of subsidiaries 5,781 0
Capital expenditures (161,493) (178,926)
Other 3,222 500
Net cash used in investing activities-continuing operations (152,490) (178,426)
Net cash provided by investing activities-discontinued operations 0 211,949
Net cash provided by (used in) investing activities (152,490) 33,523
Cash flows from financing activities    
Proceeds from issuance of long-term debt 0 4,673
Repayment of long-term debt (630,808) (9,888)
Withheld shares for employee taxes on vested share-based compensation (178) (1,074)
Preferred stock dividends of subsidiaries (946) (946)
Other (5,958) (9,544)
Net cash used in financing activities-continuing operations (637,890) (16,779)
Net cash used in financing activities-discontinued operations 0 (337,935)
Net cash used in financing activities (637,890) (354,714)
Net decrease in cash, cash equivalents and restricted cash, including cash from discontinued operations (605,964) (127,744)
Cash, cash equivalents and restricted cash, including cash from discontinued operations, beginning of period 1,242,852 694,574
Cash, cash equivalents and restricted cash, including cash from discontinued operations, end of period 636,888 566,830
Less: Restricted cash (482,603) (16,422)
Less: Cash from discontinued operations 0 (334,835)
Cash and cash equivalents from continuing operations, end of period $ 154,285 $ 215,573