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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities:      
Net income $ 283.7 $ 276.0 $ 270.8
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 270.1 256.8 250.9
Deferred financing cost amortization 10.7 10.1 9.8
Stock compensation 10.6 7.0 8.6
Deferred income taxes 52.0 25.4 25.6
Employee benefit plans 11.2 11.5 5.5
Other adjustments, net (4.1) 2.7 (4.7)
Change in certain operating assets and liabilities:      
Materials, supplies and fuel 13.2 51.4 (75.4)
Accounts receivable and other current assets (25.7) 204.5 (184.5)
Accounts payable and other current liabilities 28.8 (109.9) 89.4
Regulatory assets 90.0 236.8 203.9
Other operating activities, net (21.2) (27.9) (15.1)
Net cash provided by operating activities 719.3 944.4 584.8
Investing activities:      
Property, plant and equipment additions (744.2) (555.6) (604.4)
Other investing activities (1.8) 18.9 0.5
Net cash (used in) investing activities (746.0) (536.7) (603.9)
Financing activities:      
Dividends paid on common stock (182.3) (168.1) (156.7)
Common stock issued 181.4 118.3 90.1
Net borrowings (payments) of Revolving Credit Facility and CP Program 133.8 (535.6) 115.4
Long-term debt - issuance 450.0 800.0 0.0
Long-term debt - repayments (600.0) (525.0) 0.0
Distributions to non-controlling interests (17.4) (18.3) (17.4)
Other financing activities (8.4) (13.0) 0.9
Net cash provided by (used in) financing activities (42.9) (341.7) 32.3
Net change in cash, restricted cash and cash equivalents (69.6) 66.0 13.2
Cash, restricted cash and cash equivalents beginning of year 93.0 27.0 13.8
Cash, restricted cash and cash equivalents end of year 23.4 93.0 27.0
Supplemental cash flow information:      
Interest (net of amounts capitalized) (174.4) (157.3) (152.5)
Income taxes net of transferred tax credits (Note 15) 14.4 (1.0) 0.8
Accrued property, plant and equipment purchases at December 31 80.2 52.4 59.3
Increase in capitalized assets associated with asset retirement obligations $ 0.4 $ 3.8 $ 14.0