XML 111 R11.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net income $ 224,543 $ 191,988 $ 239,738
Adjustments to reconcile net income to net cash flows from operating activities:      
Depreciation and amortization 156,476 146,673 136,724
Deferred income taxes (10,436) (14,950) 13,780
Provision for doubtful accounts 5,306 5,305 4,986
Stock-based compensation 7,368 7,567 6,342
(Gain) loss on sale of utility system and market-based business unit (405)   774
Loss on interest rate swap agreements 23,742 59,779  
Loss on debt extinguishment 18,528    
Settlement of interest rate swap agreements (83,520)    
Gain on sale of other assets (923) (714) (484)
Net change in receivables, inventory and prepayments (4,335) (18,024) (6,458)
Net change in payables, accrued interest, accrued taxes and other accrued liabilities 5,108 567 (763)
Pension and other postretirement benefits contributions (8,597) (14,216) (16,240)
Other 5,668 4,547 2,919
Net cash flows from operating activities 338,523 368,522 381,318
Cash flows from investing activities:      
Property, plant and equipment additions, including the debt component of allowance for funds used during construction of $4,231, $3,332, and $3,578 (550,273) (495,737) (478,089)
Acquisitions of utility systems and other, net (59,687) (145,693) (5,860)
Net proceeds from the sale of utility systems and other assets 2,893 716 1,342
Other 2,464 899 2,223
Net cash flows used in investing activities (604,603) (639,815) (480,384)
Cash flows from financing activities:      
Customers' advances and contributions in aid of construction 9,092 7,458 7,312
Repayments of customers' advances (6,825) (6,217) (6,536)
Net proceeds (repayments) of short-term debt 10,275 11,799 (2,885)
Proceeds from long-term debt 1,434,506 1,331,868 591,024
Repayments of long-term debt (1,048,471) (914,125) (359,068)
Extinguishment of long-term debt (25,237)    
Change in cash overdraft position 1,993 (12,678) 9,012
Proceeds from issuance of common stock under dividend reinvestment plan 8,959 5,163 1,453
Proceeds from stock issued to finance acquisition 1,263,099    
Proceeds from tangible equity unit issuance 673,642    
Proceeds from exercised stock options 1,898 1,459 2,873
Repurchase of common stock (1,867) (2,555) (2,167)
Dividends paid on common stock (188,512) (150,736) (140,660)
Other (1,177) (720) (851)
Net cash flows from financing activities 2,131,375 270,716 99,507
Net increase (decrease) in cash and cash equivalents 1,865,295 (577) 441
Cash and cash equivalents at beginning of year 3,627 4,204 3,763
Cash and cash equivalents at end of year 1,868,922 3,627 4,204
Cash paid during the year for:      
Interest, net of amounts capitalized 89,228 93,630 81,771
Income taxes 970 2,103 3,177
Non-cash investing activities:      
Property, plant and equipment additions purchased at the period end, but not yet paid 60,628 65,285 45,385
Non-cash utility property contributions $ 30,693 $ 24,660 $ 39,220