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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
OPERATING ACTIVITIES:      
Net Income $ 186,840 $ 155,215 $ 202,120
Items not affecting cash:      
Depreciation and depletion 187,467 179,644 172,923
Amortization of debt issuance costs, discount and deferred hedge gain 5,250 4,911 4,648
Stock-based compensation costs 5,350 4,149 8,007
Equity portion of allowance for funds used during construction (11,092) (6,895) (5,768)
(Gain) loss on disposition of assets (47) 37 (188)
Deferred income taxes 525 (7,574) (13,864)
Changes in current assets and liabilities:      
Accounts receivable (30,442) (824) (5,032)
Inventories (19,604) (7,085) (3,110)
Other current assets (6,835) (3,477) (3,140)
Accounts payable 7,494 16,043 (1,821)
Accrued expenses 26,055 5,909 (16,023)
Regulatory assets (69,616) 14,749 (16,028)
Regulatory liabilities (27,674) 22,773 (7,796)
Other noncurrent assets 2,313 (5,396) (22,841)
Other noncurrent liabilities (36,006) (20,030) 4,633
Cash Provided by Operating Activities 219,978 352,149 296,720
INVESTING ACTIVITIES:      
Property, plant, and equipment additions (434,328) (405,762) (316,016)
Investment in equity securities (1,505) (42) (135)
Cash Used in Investing Activities (435,833) (405,804) (316,151)
FINANCING ACTIVITIES:      
Dividends on common stock (128,483) (120,350) (115,127)
Proceeds from issuance of common stock, net 196,246 0 0
Issuance of long-term debt 99,915 150,000 150,000
Payment for Debt Extinguishment or Debt Prepayment Cost (955) 0 0
Line of credit borrowings (repayments), net 151,000 (67,000) (19,000)
(Repayments) issuances of short-term borrowings (100,000) 100,000 0
Treasury stock activity 707 (1,391) 1,432
Financing costs (909) (2,578) (1,115)
Cash Provided by Financing Activities 217,521 58,681 16,190
Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash 1,666 5,026 (3,241)
Cash, Cash Equivalents, and Restricted Cash, beginning of period 17,096 12,070 15,311
Cash, Cash Equivalents, and Restricted Cash, end of period $ 18,762 $ 17,096 $ 12,070