XML 17 R5.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
OPERATING ACTIVITIES:    
Net income before noncontrolling interest $ 24,255 $ 20,153
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 25,258 23,204
Deferred income taxes 1,286 10,049
Share-based compensation 1,044 852
Gain on sale of real estate investments (6,903) 0
Gain on sale of California Water Service Group stock 0 (3,197)
Changes in operating assets and liabilities:    
Accounts receivable and accrued unbilled utility revenue (7,814) (7,489)
Accounts payable and other current liabilities 725 (1,012)
Accrued groundwater extraction charges, purchased water and power 7,376 3,553
Tax payable and receivable, and other accrued taxes 12,030 6,141
Postretirement benefits 2,651 2,848
Regulatory assets and liability related to balancing and memorandum accounts (3,031) (780)
Other changes, net 114 1,049
NET CASH PROVIDED BY OPERATING ACTIVITIES 56,991 55,371
INVESTING ACTIVITIES:    
Company-funded (62,037) (62,859)
Contributions in aid of construction (3,142) (3,286)
Additions to real estate investments (119) (248)
Payments for business/asset acquisition and water rights (1,150) (1,060)
Payments to retire utility plant, net of salvage (718) (808)
Proceeds from sale of real estate investments 11,180 0
Proceeds from non-refundable deposit 3,000 0
Proceeds from sale of California Water Service Group stock 0 4,510
NET CASH USED IN INVESTING ACTIVITIES (52,986) (63,751)
FINANCING ACTIVITIES:    
Borrowings on line of credit 2,500 33,875
Repayments of line of credit (16,700) (12,550)
Repayments of long-term borrowings (2,717) (4,885)
Payment to noncontrolling interest (1,896) 0
Dividends paid (8,916) (8,274)
Receipts of advances and contributions in aid of construction 9,052 8,750
Refunds of advances for construction (1,202) (1,164)
Other changes, net (248) (93)
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES (20,127) 15,659
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (16,122) 7,279
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD 25,350 5,239
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD 9,228 12,518
Cash paid (received) during the period for:    
Interest 12,382 11,943
Income taxes 237 (3,783)
Supplemental disclosure of non-cash activities:    
Increase in accrued payables for construction costs capitalized 7,985 9,061
Utility property installed by developers 381 3,907
RECONCILIATION TO CONSOLIDATED BALANCE SHEETS:    
Cash and cash equivalents 9,220 12,518
Restricted cash $ 8 $ 0