XML 15 R5.htm IDEA: XBRL DOCUMENT v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities:    
Net income $ 97,543 $ 81,334
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 83,673 75,550
Change in value of life insurance contracts (2,097) (621)
Allowance for equity funds used during construction (2,290) (4,292)
Changes in operating assets and liabilities:    
Receivables and unbilled revenue (43,220) (41,374)
Accounts payable (2,914) 7,199
Other current assets 1,654 (536)
Other current liabilities 16,541 16,304
Other changes in noncurrent assets and liabilities 30,268 (36,900)
Net cash provided by operating activities 179,158 96,664
Investing activities:    
Utility plant expenditures (207,748) (221,261)
Purchase of life insurance contracts (2,335) (2,335)
Business acquisition, net of cash acquired (6,451) (39,544)
Return of investment 1,000 0
Net cash used in investing activities (215,534) (263,140)
Financing activities:    
Short-term borrowings 180,000 270,000
Repayment of short-term borrowings (430,000) (70,000)
Issuance of long-term debt, net of debt issuance costs of $1,064 for 2021 and $0 for 2020 278,936 0
Repayment of long-term debt (1,522) (1,535)
Advances and contributions in aid of construction 21,663 19,862
Refunds of advances for construction (8,204) (7,017)
Repurchase of common stock (1,593) (1,578)
Issuance of common stock 128,507 58,573
Dividends paid (35,146) (31,177)
Net cash provided by financing activities 132,641 237,128
Change in cash, cash equivalents, and restricted cash 96,265 70,652
Cash, cash equivalents, and restricted cash at beginning of period 45,129 43,298
Cash, cash equivalents, and restricted cash at end of period 141,394 113,950
Supplemental information:    
Cash paid for interest (net of amounts capitalized) 20,162 21,862
Supplemental disclosure of non-cash activities:    
Accrued payables for investments in utility plant 63,047 47,015
Utility plant contribution by developers $ 22,666 $ 22,762