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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 614,046 $ 628,551
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sale relating to BCE 0 (22,988)
Depreciation and amortization including nuclear fuel 731,643 711,587
Allowance for equity funds used during construction (45,687) (28,790)
Deferred income taxes (9,629) (13,351)
Deferred investment tax credit (10,019) (10,287)
Stock compensation 21,252 16,940
Changes in current assets and liabilities:    
Customer and other receivables (253,215) (330,867)
Accrued unbilled revenues (80,971) (94,288)
Materials, supplies and fossil fuel (37,251) (34,493)
Income tax receivable 0 332
Deferred fuel and purchased power (276,327) (244,109)
Deferred fuel and purchased power amortization 358,871 340,030
Other current assets (5,803) (26,062)
Accounts payable 80,810 24,958
Accrued taxes 172,513 174,807
Other current liabilities 23,463 74,177
Change in long-term regulatory assets 72,050 32,132
Change in long-term regulatory liabilities 46,167 43,448
Change in other long-term assets (222,252) (126,379)
Change in operating lease assets 131,272 94,768
Change in other long-term liabilities 153,248 49,694
Change in operating lease liabilities (135,866) (89,479)
Net cash provided by operating activities 1,328,315 1,170,331
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (1,955,102) (1,717,571)
Contributions in aid of construction 166,198 235,861
Proceeds from sale relating to BCE 0 64,322
Allowance for borrowed funds used during construction (35,640) (36,078)
Proceeds from nuclear decommissioning trusts sales and other special use funds 1,375,159 1,140,371
Investment in nuclear decommissioning trusts and other special use funds (1,378,379) (1,150,541)
Other (5,350) (5,687)
Net cash used for investing activities (1,833,114) (1,469,323)
CASH FLOWS FROM FINANCING ACTIVITIES    
Issuance of long-term debt 1,742,754 1,313,229
Repayment of long-term debt (800,000) (675,000)
Short-term borrowing and (repayments) - net 107,250 14,000
Short-term debt borrowings under term loan facility 400,000 350,000
Short-term debt repayments under term loan facility (400,000) (350,000)
Dividends paid on common stock (315,463) (294,589)
Common stock equity issuance and (purchases) - net 9,419  
Common stock equity issuance and (purchases) - net   (3,804)
Palo Verde sale leaseback noncontrolling interest acquisition (198,744) 0
Capital activities by noncontrolling interests (13,370) (10,628)
Net cash provided by financing activities 531,846 343,208
NET INCREASE IN CASH AND CASH EQUIVALENTS 27,047 44,216
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 3,838 4,955
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 30,885 $ 49,171