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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2020
Mar. 31, 2019
CASH FLOW FROM OPERATING ACTIVITIES:        
Net income $ 73,005 $ 95,384 $ 194,268 $ 198,742
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization 87,653 77,539 313,351 264,273
Deferred income taxes 25,309 24,923 54,548 52,736
Changes in current assets and liabilities:        
Accounts receivable, net of allowances 45,837 (15,562) 7,154 (40,282)
Accrued utility revenue 31,000 30,200 (1,100) 300
Deferred purchased gas costs 10,155 (67,863) 19,527 25,339
Accounts payable (60,723) (12,643) (49,945) 47,632
Accrued taxes 30,377 25,400 10,220 (5,331)
Other current assets and liabilities 76,453 47,848 102,742 (5,582)
Gains on sale of equipment (28) (233) (5,268) (1,706)
Changes in undistributed stock compensation 2,816 3,188 6,524 7,438
Equity AFUDC (1,061) (960) (4,262) (4,358)
Changes in deferred charges and other assets 6,495 (16,328) 1,772 (20,221)
Changes in other liabilities and deferred credits (55,722) (2,782) (65,704) 17,420
Net cash provided by operating activities 271,566 188,111 583,827 536,400
CASH FLOW FROM INVESTING ACTIVITIES:        
Construction expenditures and property additions (210,655) (210,662) (938,141) (822,034)
Acquisition of businesses, net of cash acquired 0 0 (47,638) (247,164)
Changes in customer advances 5,434 3,078 21,357 13,503
Other 4,430 262 19,321 3,200
Net cash used in investing activities (200,791) (207,322) (945,101) (1,052,495)
CASH FLOW FROM FINANCING ACTIVITIES:        
Issuance of common stock, net 3,148 25,879 135,215 369,061
Dividends paid (30,006) (27,602) (118,531) (104,003)
Issuance of long-term debt, net 99,978 29,666 601,908 259,456
Retirement of long-term debt (75,168) (31,160) (257,797) (247,816)
Change in credit facility and commercial paper 0 0 0 111,000
Change in short-term debt (54,000) 36,000 (31,000) 165,500
Principal payments on finance lease obligations (51) (70) (193) (553)
Withholding remittance - share-based compensation (2,736) (1,838) (2,756) (2,096)
Other (199) (53) (1,422) (2,460)
Net cash provided by (used in) financing activities (59,034) 30,822 325,424 548,089
Effects of currency translation on cash and cash equivalents (315) 65 (222) (72)
Change in cash and cash equivalents 11,426 11,676 (36,072) 31,922
Cash and cash equivalents at beginning of period 49,539 85,361 97,037 65,115
Cash and cash equivalents at end of period 60,965 97,037 60,965 97,037
SUPPLEMENTAL INFORMATION:        
Interest paid, net of amounts capitalized 13,073 15,850 99,481 89,118
Income taxes paid (received), net (20,064) 454 (17,766) (2,743)
Southwest Gas Corporation        
CASH FLOW FROM OPERATING ACTIVITIES:        
Net income 83,599 103,389 143,381 151,882
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization 64,725 57,612 222,733 199,467
Deferred income taxes 7,707 26,270 15,118 50,593
Changes in current assets and liabilities:        
Accounts receivable, net of allowances 1,975 (30,414) 21,652 (22,522)
Accrued utility revenue 31,000 30,200 (1,100) 300
Deferred purchased gas costs 10,155 (67,863) 19,527 25,339
Accounts payable (41,899) (39,574) (29,798) 18,398
Accrued taxes 53,335 28,704 33,526 (17,504)
Other current assets and liabilities 99,257 81,625 106,803 (12,982)
Changes in undistributed stock compensation 2,496 2,597 5,045 5,834
Equity AFUDC (1,061) (960) (4,262) (4,358)
Changes in deferred charges and other assets 3,658 (18,238) (9,871) (23,289)
Changes in other liabilities and deferred credits (55,910) (2,977) (66,294) 16,805
Net cash provided by operating activities 259,037 170,371 456,460 387,963
CASH FLOW FROM INVESTING ACTIVITIES:        
Construction expenditures and property additions (173,353) (163,636) (788,465) (714,762)
Changes in customer advances 5,433 3,078 21,356 13,503
Other (31) (78) (48) (357)
Net cash used in investing activities (167,951) (160,636) (767,157) (701,616)
CASH FLOW FROM FINANCING ACTIVITIES:        
Contributions from parent 50,000 22,842 187,094 136,391
Dividends paid (25,200) (23,500) (97,600) (89,500)
Issuance of long-term debt, net 0 0 297,222 0
Change in credit facility and commercial paper 0 0 0 111,000
Change in short-term debt (97,000) 36,000 (91,000) 188,000
Withholding remittance - share-based compensation (2,736) (1,838) (2,756) (2,096)
Other (115) (53) (887) (783)
Net cash provided by (used in) financing activities (75,051) 33,451 292,073 343,012
Change in cash and cash equivalents 16,035 43,186 (18,624) 29,359
Cash and cash equivalents at beginning of period 40,489 31,962 75,148 45,789
Cash and cash equivalents at end of period 56,524 75,148 56,524 75,148
SUPPLEMENTAL INFORMATION:        
Interest paid, net of amounts capitalized 10,204 11,585 87,277 75,094
Income taxes paid (received), net $ (22,962) $ (22) $ 700 $ (5,878)