XML 16 R5.htm IDEA: XBRL DOCUMENT v3.19.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 3,590 $ 3,478
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 2,715 2,568
Deferred income taxes, net (768) (592)
Stock compensation 47 47
AFUDC, equity portion (145) (56)
Changes in assets and liabilities:    
Accounts receivable, net of allowance for doubtful accounts 1,184 824
Income tax receivable 763 1,702
Unbilled operating revenues (69) 131
Materials and supplies (105) 102
Prepaid property taxes 941 903
Prepaid expenses and other 142 291
Other deferred assets (361) (255)
Regulatory assets 95 91
Regulatory liabilities (94) 0
Accounts payable (3,324) (4,177)
Income tax payable 1,292 0
Accrued expenses 525 94
Accrued interest 565 (673)
Revenue reserved for refund 474 748
Customer deposits and other, net 174 641
NET CASH PROVIDED BY OPERATING ACTIVITIES 7,641 5,867
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (net of AFUDC, equity portion) (9,098) (9,879)
Proceeds from sale of assets 14 10
NET CASH USED IN INVESTING ACTIVITIES (9,084) (9,869)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net borrowings under lines of credit agreements 2,669 4,837
Decrease in overdraft payable 252 356
Net advances and contributions in aid of construction 748 398
Net proceeds from issuance of common stock 395 393
Dividends paid (2,241) (2,168)
Debt issuance costs 0 (75)
Principal repayments of long-term debt (408) (398)
Principal repayments of long-term debt 1,415 3,343
NET DECREASE IN CASH AND CASH EQUIVALENTS (28) (659)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 293 952
CASH AND CASH EQUIVALENTS AT END OF PERIOD 265 293
Supplemental Disclosures of Cash Flow Information:    
Utility plant received as construction advances and contributions 152 48
Interest paid 1,155 2,172
Income taxes paid $ 0 $ 0