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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating activities:    
Net income $ 19,013 $ 16,551
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 33,766 29,631
Deferred income taxes 3,120 3,020
Stock-based compensation 1,212 1,210
Allowance for equity funds used during construction (1,597) (834)
Changes in operating assets and liabilities, net of acquired assets and liabilities    
Accounts receivable and accrued unbilled utility revenue (742) 5,355
Accounts payable and other current liabilities (10,034) (10,742)
Accrued groundwater extraction charges, purchased water and power (1,390) (1,807)
Tax receivable and payable, and other accrued taxes 1,629 4,962
Postretirement benefits (2,028) (1,294)
Regulatory assets and liabilities excluding cost of removal, income tax temporary differences and postretirement benefits 4,280 (577)
Other noncurrent assets and noncurrent liabilities 2,717 0
Other changes, net (6,240) (2,294)
Net cash provided by operating activities 43,706 43,181
Additions to utility plant:    
Company-funded (82,132) (77,461)
Contributions in aid of construction (10,376) (6,884)
Cost to retire utility plant, net of salvage (424) (414)
Net cash used in investing activities (92,932) (84,759)
Financing activities:    
Borrowings from lines of credit 66,923 67,403
Repayments of lines of credit (153,752) (33,938)
Long-term borrowings 214 0
Repayments of long-term borrowings (16,258) (1,071)
Issuance of common stock, net of issuance costs 288,601 26,545
Dividends paid (15,912) (14,142)
Receipts of advances and contributions in aid of construction 12,326 9,838
Refunds of advances for construction (991) (674)
Other changes, net 397 199
Net cash provided by financing activities 181,548 54,160
Net change in cash and cash equivalents 132,322 12,582
Cash and cash equivalents, beginning of period 20,686 11,114
Cash and cash equivalents, end of period 153,008 23,696
Cash paid (refunded) during the period for:    
Interest 15,790 16,820
Interest, net of amounts capitalized 13,670 15,567
Income taxes 165 (680)
Supplemental disclosure of non-cash activities:    
Accrued payables for additions to utility plant 46,703 37,724
Utility property installed by developers $ 629 $ 999