XML 25 R5.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Condensed Consolidated Statement of Cash Flows (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
OPERATING ACTIVITIES:    
Net income $ 6,061 $ 5,501
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 15,586 14,181
Deferred income taxes 3,991 614
Share-based compensation 328 423
Loss on sale of utility property 23 0
Changes in operating assets and liabilities:    
Accounts receivable and accrued unbilled utility revenue (7,770) (6,908)
Accounts payable, purchased power and other current liabilities 884 691
Accrued groundwater extraction charges and purchased water 2,643 3,138
Accrued taxes 4,811 449
Accrued interest 19 150
Accrued payroll 1,049 1,067
Postretirement benefits 1,710 2,689
Other charges, net 356 162
NET CASH PROVIDED BY OPERATING ACTIVITIES 29,691 22,157
INVESTING ACTIVITIES:    
Company funded (28,289) (38,507)
Contributions in aid of construction (1,771) (1,695)
Additions to real estate investment (112) 0
Payments for business acquisition and water rights (1,776) (2,577)
Cost to retire utility plant, net of salvage (1,715) (196)
Proceeds from sale of utility property 43 0
NET CASH USED IN INVESTING ACTIVITIES (33,620) (42,975)
FINANCING ACTIVITIES:    
Borrowings from line of credit 10,600 30,850
Repayments of line of credit (7,800) (24,800)
Long-term borrowings 50,000 22,267
Repayments of long-term borrowings (736) (391)
Debt issuance costs (87) (783)
Dividends paid (6,409) (6,299)
Exercise of stock options and similar instruments 262 290
Tax benefits realized from share options exercised 7 4
Receipts of advances and contributions in aid of construction 2,746 2,769
Refund of advances for construction (1,028) (1,010)
NET CASH PROVIDED BY FINANCING ACTIVITIES 47,555 22,897
NET CHANGE IN CASH AND CASH EQUIVALENTS 43,626 2,079
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 1,730 1,416
CASH AND CASH EQUIVALENTS, END OF PERIOD 45,356 3,495
Cash paid (received) during the period for:    
Interest 9,642 8,491
Income taxes (5,358) 1,442
Supplemental disclosure of non-cash activities:    
Change in accrued payables 3,466 11,636
Utility Property Installed by Developer 0 117
Loan proceeds held as restricted cash $ 0 $ 27,733