XML 16 R5.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
OPERATING ACTIVITIES:    
Net income $ 20,153 $ 12,156
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 23,204 21,152
Deferred income taxes 10,049 2,170
Share-based compensation 852 761
Gain on sale of California Water Service Group stock (3,197) 0
Changes in operating assets and liabilities:    
Accounts receivable and accrued unbilled utility revenue (7,489) (3,340)
Accounts payable and other current liabilities (1,012) 92
Accrued groundwater extraction charges, purchased water and power 3,553 2,569
Tax receivable and accrued taxes 6,141 4,741
Postretirement benefits 2,848 2,641
Regulatory assets and liability related to balancing and memorandum accounts (780) 4,190
Other changes, net 552 (2,114)
NET CASH PROVIDED BY OPERATING ACTIVITIES 54,874 45,018
INVESTING ACTIVITIES:    
Company-funded (62,859) (37,897)
Contributions in aid of construction (3,286) (6,151)
Additions to real estate investments (248) (99)
Payments for business/asset acquisition and water rights (1,060) (991)
Payments to retire utility plant, net of salvage (808) (2,532)
Proceeds from sale of California Water Service Group stock 4,510 0
NET CASH USED IN INVESTING ACTIVITIES (63,751) (47,670)
FINANCING ACTIVITIES:    
Borrowings from line of credit 33,875 41,900
Repayments of line of credit (12,550) (34,900)
Repayments of long-term borrowings (4,885) (314)
Debt issuance costs (249) 0
Dividends paid (8,274) (7,936)
Employee stock purchase plan proceeds 451 433
Tax benefits realized from restricted and deferred stock units 202 634
Receipts of advances and contributions in aid of construction 8,750 6,797
Refunds of advances for construction (1,164) (1,123)
NET CASH PROVIDED BY FINANCING ACTIVITIES 16,156 5,491
NET CHANGE IN CASH AND CASH EQUIVALENTS 7,279 2,839
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 5,239 2,399
CASH AND CASH EQUIVALENTS, END OF PERIOD 12,518 5,238
Cash paid (received) during the period for:    
Interest 11,943 11,905
Income taxes (3,783) (448)
Supplemental disclosure of non-cash activities:    
Increase in accrued payables for construction costs capitalized 9,061 5,842
Utility property installed by developers $ 3,907 $ 460