XML 30 R9.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income $ 465,237 $ 431,612 $ 284,849
Adjustments to reconcile net income to net cash flows from operating activities:      
Depreciation and amortization 321,177 297,952 257,059
Deferred income taxes (23,045) (8,514) (17,782)
Provision for doubtful accounts 27,631 27,336 32,325
Stock-based compensation 12,206 10,078 8,160
Gain on sale of utility system and other assets (991) (1,589) (642)
Net change in receivables, deferred purchased gas costs, inventory and prepayments (223,335) (109,605) (35,348)
Net change in payables, accrued interest, accrued taxes and other accrued liabilities 53,761 5,190 (1,819)
Pension and other postretirement benefits contributions (22,027) (15,135) (20,282)
Other (10,308) 7,354 1,504
Net cash flows from operating activities 600,306 644,679 508,024
Cash flows from investing activities:      
Property, plant and equipment additions, including the debt component of allowance for funds used during construction of $6,047, $4,510 and $4,434 (1,062,763) (1,020,519) (835,642)
Acquisitions of utility systems and other, net (116,891) (36,326) (3,501,835)
Net proceeds from the sale of utility systems and other assets 1,081 1,819 2,115
Other 271 (1,032) 1,696
Net cash flows used in investing activities (1,178,302) (1,056,058) (4,333,666)
Cash flows from financing activities:      
Customers' advances and contributions in aid of construction 11,714 15,264 9,585
Repayments of customers' advances (5,006) (7,725) (8,337)
Net proceeds (repayments) of short-term debt 163,500 (13,350) (129,407)
Proceeds from long-term debt 1,646,742 1,095,171 3,366,838
Repayments of long-term debt (977,175) (769,546) (1,820,571)
Change in cash overdraft position (53,028) 37,719 33,059
Proceeds from issuance of common stock under dividend reinvestment plan 16,619 16,799 16,522
Proceeds from issuance of common stock from private placement     729,301
Proceeds from issuance of common stock from forward equity sale agreement   299,739  
Proceeds from tangible equity unit issuance 63,040    
Proceeds from exercised stock options 2,475 4,172 1,589
Repurchase of common stock (1,192) (3,291) (4,365)
Dividends paid on common stock (288,632) (258,650) (232,571)
Other (230) 817 (96)
Net cash flows from financing activities 578,827 417,119 1,961,547
Net increase (decrease) in cash and cash equivalents 831 5,740 (1,864,095)
Cash and cash equivalents at beginning of year 10,567 4,827 1,868,922
Cash and cash equivalents at end of year 11,398 10,567 4,827
Cash paid during the year for:      
Interest, net of amounts capitalized 225,820 201,792 169,048
Income taxes 11,269 5,692 4,853
Non-cash investing activities:      
Property, plant and equipment additions purchased at the period end, but not yet paid 102,129 95,945 98,569
Non-cash utility property contributions $ 35,698 $ 36,882 $ 36,181