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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities      
Net income $ 201,128 $ 243,028 $ 248,056
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation of property, plant and equipment 267,691 256,069 246,158
Other amortization 43,106 38,772 32,544
Provision for credit losses 10,357 2,037 (25,825)
Loans originated, held for sale (51,872) (128,195) (340,986)
Proceeds from sale of loans, held for sale 49,162 136,504 364,848
Loss (gains) on sale of investment securities, net and equity-method investment 15,609 (8,123) (528)
Gain on sale of loans (910) (1,692) (9,305)
Deferred income tax expense (benefit) 5,268 (32,502) (5,398)
Share-based compensation expense 10,532 10,366 9,135
Allowance for equity funds used during construction (15,164) (10,574) (9,534)
Other (4,342) (7,580) (7,060)
Changes in assets and liabilities      
Increase in accounts receivable and unbilled revenues, net (75,038) (151,551) (73,811)
Decrease (increase) in fuel oil stock 43,388 (87,569) (45,819)
Increase in materials and supplies (34,887) (7,960) (4,602)
Decrease (increase) in regulatory assets (10,613) 34,600 (13,874)
Increase in regulatory liabilities 54,470 44,888 15,358
Increase in accounts, interest and dividends payable 60,013 28,169 9,925
Change in prepaid and accrued income taxes, tax credits and utility revenue taxes (13,247) 121,636 41,331
Decrease in defined benefit pension and other postretirement benefit plans liability (8,872) (5,191) (6,660)
Change in other assets and liabilities 5,692 (20,656) (48,280)
Net cash provided by operating activities 551,471 454,476 375,673
Cash flows from investing activities      
Available-for-sale investment securities purchased 0 (366,177) (1,464,644)
Principal repayments on available-for-sale investment securities 148,693 342,354 583,238
Proceeds from sale of available-for-sale investment securities 170,481 0 197,354
Purchases of held-to-maturity investment securities 0 0 (349,579)
Proceeds from repayments or maturities of held-to-maturity investment securities 67,360 29,432 53,654
Purchase of stock from Federal Home Loan Bank (91,200) (173,768) (33,022)
Redemption of stock from Federal Home Loan Bank 103,032 157,208 31,702
Net decrease (increase) in loans held for investment (285,493) (661,492) 72,489
Proceeds from sale of commercial loans 94,665 0 0
Proceeds from sale of residential loans 0 0 59,844
Purchase of loans held for investment (26,195) (102,504) 0
Proceeds from sale of real estate held for sale 595 3,806 0
Capital expenditures (448,296) (344,037) (314,524)
Contributions to low income housing investments (1,360) (844) (16,131)
Acquisition of business 0 (25,706) 0
Other, net 10,319 13,046 27
Net cash used in investing activities (257,399) (1,128,682) (1,179,592)
Cash flows from financing activities      
Net increase (decrease) in deposit liabilities (122,228) (2,516) 785,255
Net decrease in short-term borrowings with original maturities of three months or less (137,650) 83,652 (10,493)
Proceeds from issuance of short-term debt 65,000 35,000 0
Repayment of short-term debt (100,000) 0 (65,000)
Net increase (decrease) in other bank borrowings with original maturities of three months or less (596,810) 606,815 (1,365)
Proceeds from issuance of other bank borrowings 1,000,000 0 0
Repayment of other bank borrowings (250,000) 0 0
Proceeds from issuance of long-term debt 625,000 227,312 285,886
Repayment of long-term debt (167,080) (221,910) (82,262)
Withheld shares for employee taxes on vested share-based compensation (2,371) (3,165) (2,006)
Net proceeds from issuance of common stock 1,223 0 0
Common stock dividends (112,957) (153,229) (148,643)
Preferred stock dividends of subsidiaries (1,890) (1,890) (1,890)
Other (4,662) (2,398) (3,080)
Net cash provided by (used in) financing activities 195,575 567,671 756,402
Net increase (decrease) in cash, cash equivalents and restricted cash 489,647 (106,535) (47,517)
Cash, cash equivalents and restricted cash, January 1 204,927 311,462 358,979
Cash, cash equivalents and restricted cash, December 31 694,574 204,927 311,462
Less: Restricted cash (15,028) (5,050) (5,911)
Cash and cash equivalents $ 679,546 $ 199,877 $ 305,551