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Immaterial Restatement of Prior Period Financial Statements | 6 Months Ended
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Jun. 30, 2019
Accounting Changes and Error Corrections [Abstract] |
Immaterial Restatement of Prior Period Financial Statements | Immaterial Restatement of Prior Period Financial Statements Subsequent to the issuance of the Company's Condensed Consolidated Financial Statements for the three and six months ended June 30, 2018, the Company identified an immaterial computational error related to the amount of authorized revenue recorded pursuant to the Company's pension and health care cost recovery balancing accounts. In accordance with the 2015 GRC, the Company adjusts the revenue and corresponding balancing accounts quarterly to reflect actual pension and health care costs, subject to certain limitations prescribed by the 2015 GRC. The error does not impact the billings to customers or the cash collected from customers in this GRC period, which ends on December 31, 2019. As provided for in the 2015 GRC, the amounts included in the balancing account will be recovered from or refunded to customers during the next GRC period. The Company corrected the error in the accompanying Condensed Consolidated Financial Statements for the three and six months ended June 30, 2018. The Company believes the correction of the error is immaterial to the previously issued Condensed Consolidated Financial Statements. The corrections to the Company's Condensed Consolidated Statements of Income for the three and six months ended June 30, 2018 were as follows: Condensed Consolidated Statements of Income
| For the three months ended June 30, 2018
| As Previously Reported |  | Corrections |  | As Corrected
| (In thousands, except per share data)
Operating revenue | $ | 172,632 |  |  | $ | 2,306 |  |  | $ | 174,938 |
Operating expenses: |  |  |  |  |  |  |  |
Income taxes | 4,347 |  |  | 523 |  |  | 4,870 |
Total operating expenses | 147,576 |  |  | 523 |  |  | 148,099 |
Net operating income | 25,056 |  |  | 1,783 |  |  | 26,839 |
Net income | $ | 13,022 |  |  | $ | 1,783 |  |  | $ | 14,805 |
Earnings per share: |  |  |  |  |  |  |  |
Basic | $ | 0.27 |  |  | $ | 0.04 |  |  | $ | 0.31 |
Diluted | $ | 0.27 |  |  | $ | 0.04 |  |  | $ | 0.31 |
| For the six months ended June 30, 2018
| As Previously Reported |  | Corrections |  | As Corrected
| (In thousands, except per share data)
Operating revenue | $ | 304,879 |  |  | $ | 4,612 |  |  | $ | 309,491 |
Operating expenses: |  |  |  |  |  |  |  |
Income taxes | 4,118 |  |  | 1,046 |  |  | 5,164 |
Total operating expenses | 271,770 |  |  | 1,046 |  |  | 272,816 |
Net operating income | 33,109 |  |  | 3,566 |  |  | 36,675 |
Net income | $ | 10,477 |  |  | $ | 3,566 |  |  | $ | 14,043 |
Earnings per share: |  |  |  |  |  |  |
Basic | $ | 0.22 |  |  | $ | 0.07 |  |  | $ | 0.29 |
Diluted | $ | 0.22 |  |  | $ | 0.07 |  |  | $ | 0.29 |
The corrections to the Company's retained earnings and total stockholders’ equity as of January 1, 2018, March 31, 2018, and June 30, 2018 were as follows:
| January 1, 2018
| As Previously Reported |  | Corrections |  | As Corrected
| (In thousands)
Retained earnings | $ | 356,753 |  |  | $ | 5,759 |  |  | $ | 362,512 |
Total common stockholders' equity | 693,462 |  |  | 5,759 |  |  | 699,221 |
| March 31, 2018
| As Previously Reported |  | Corrections |  | As Corrected
| (In thousands)
Retained earnings | $ | 345,205 |  |  | $ | 7,542 |  |  | $ | 352,747 |
Total common stockholders' equity | 681,311 |  |  | 7,542 |  |  | 688,853 |
| June 30, 2018
| As Previously Reported |  | Corrections |  | As Corrected
| (In thousands)
Retained earnings | $ | 349,213 |  |  | $ | 9,325 |  |  | $ | 358,538 |
Total common stockholders' equity | 685,932 |  |  | 9,325 |  |  | 695,257 |
The corrections to the Company's Condensed Consolidated Statement of Cash Flows for the six months ended June 30, 2018 were as follows: Condensed Consolidated Statement of Cash Flows
| For the six months ended June 30, 2018
| As Previously Reported |  | Corrections |  | As Corrected
| (In thousands)
Operating activities: |  |  |  |  |  |  |
Net income | $ | 10,477 |  |  | $ | 3,566 |  |  | $ | 14,043 |
Other changes in noncurrent assets and liabilities | 13,705 |  |  | (3,566 | ) |  | 10,139 |
Net cash provided by operating activities | $ | 49,571 |  |  | $ | — |  |  | $ | 49,571 |

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- Definition The entire disclosure for reporting accounting changes and error corrections. It includes the conveyance of information necessary for a user of the Company's financial information to understand all aspects and required disclosure information concerning all changes and error corrections reported in the Company's financial statements for the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -URI http://asc.fasb.org/topic&trid=2122394 + Details
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