XML 16 R5.htm IDEA: XBRL DOCUMENT v3.19.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 7,368 $ 7,404
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 5,438 5,109
Deferred income taxes, net (1,690) (486)
Stock compensation 90 95
AFUDC, equity portion (311) (186)
Changes in assets and liabilities:    
Accounts receivable, net of allowance for doubtful accounts 3,604 (861)
Income tax receivable 574 2,092
Unbilled operating revenues (335) (431)
Materials and supplies 159 94
Income taxes payable 899 0
Prepaid property taxes 1,867 1,791
Prepaid expenses and other (572) (478)
Other deferred assets (373) (254)
Regulatory assets 189 165
Regulatory liabilities (210) (50)
Accounts payable (3,775) (3,734)
Accrued expenses (1,404) 442
Accrued interest 1,023 (220)
Revenue reserved for refund (3,298) 0
Customer deposits and other, net (267) 2,172
NET CASH PROVIDED BY OPERATING ACTIVITIES 8,976 12,664
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (net of AFUDC, equity portion) (18,157) (22,994)
Proceeds from sale of assets 36 30
NET CASH USED IN INVESTING ACTIVITIES (18,121) (22,964)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net borrowings under lines of credit agreements 9,757 9,823
Increase in overdraft payable 661 169
Net advances and contributions in aid of construction 3,314 4,076
Net proceeds from issuance of common stock 598 612
Dividends paid (4,522) (4,373)
Debt issuance costs 0 (75)
Principal repayments of long-term debt (771) (668)
NET CASH PROVIDED BY FINANCING ACTIVITIES 9,037 9,564
NET DECREASE IN CASH AND CASH EQUIVALENTS (108) (736)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 293 952
CASH AND CASH EQUIVALENTS AT END OF PERIOD 185 216
Non-cash Investing and Financing Activity:    
Utility plant received as construction advances and contributions 1,595 185
Dividends declared but not paid 2,282 2,206
Supplemental Disclosures of Cash Flow Information:    
Interest paid 2,447 3,220
Income taxes paid $ 2,940 $ 1,289