XML 25 R8.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Operating activities:      
Net income before noncontrolling interest $ 38,767 $ 61,100 $ 52,839
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 56,907 50,501 46,295
Deferred income taxes (9,486) (436) 4,803
Share-based compensation 2,117 2,643 1,691
Unrealized loss on California Water Service Group stock 527 0 0
Gain on sale of California Water Service Group stock (104) 0 (3,197)
Gain on sale of real estate investments 0 (6,903) (10,419)
Gain on sale of Texas Water Alliance Limited and utility property 0 (12,499) 0
Changes in operating assets and liabilities:      
Accounts receivable and accrued unbilled utility revenue (2,003) (1,702) (5,377)
Accounts payable and other current liabilities 2,130 2,888 (337)
Accrued groundwater extraction charges, purchased water and power (688) 3,536 3,683
Tax receivable and accrued taxes 5,841 2,164 (680)
Postretirement benefits 203 (769) (349)
Regulatory asset related to balancing and memorandum accounts (6,488) (979) 19,297
Other noncurrent assets and noncurrent liabilities 1,923 741 5,468
Other changes, net 1,697 827 854
Net cash provided by operating activities 91,343 101,112 114,571
Investing activities:      
Company-funded (135,973) (141,213) (129,134)
Contributions in aid of construction (8,454) (7,842) (13,086)
Additions to real estate investment (123) (116) (328)
Payments for business/asset acquisition and water rights (2,496) (1,149) (1,070)
Cost to retire utility plant, net of salvage (3,909) (3,356) (3,361)
Proceeds from sale of California Water Service Group stock 4,112 0 4,509
Proceeds from sale of Texas Water Alliance Limited and utility property 0 28,623 0
Proceeds from sale of real estate investments 0 11,179 20,341
Net cash used in investing activities (146,843) (113,874) (122,129)
Financing activities:      
Borrowings from lines of credit 76,000 56,500 62,075
Repayments of lines of credit (1,000) (45,700) (82,475)
Long-term borrowings 0 0 50,999
Long-term borrowings held as restricted cash 0 0 19,001
Repayments of long-term borrowings 0 (2,717) (16,599)
Dividends paid (23,074) (21,332) (16,559)
Receipts of advances and contributions in aid of construction 10,890 12,581 14,366
Refunds of advances for construction (2,700) (2,622) (2,522)
Issuance of common stock, net of issuance costs 411,385 0 0
Other changes, net (3,078) (1,499) (617)
Net cash provided by (used in) financing activities 468,423 (4,789) 27,669
Net change in cash, cash equivalents and restricted cash 412,923 (17,551) 20,111
Cash and cash equivalents, beginning of year 7,799 25,350 5,239
Cash, cash equivalents and restricted cash, end of year 420,722 7,799 25,350
Cash paid during the year for:      
Interest 27,038 25,254 23,962
Income Taxes Paid, Net 13,750 34,052 27,517
Supplemental disclosure of non-cash activities:      
Increase (Decrease) in accrued payables for construction costs capitalized 340 2,700 3,696
Utility property installed by developers 1,747 3,723 9,614
Reconciliation to Consolidated Balance Sheets:      
Cash, cash equivalents and restricted cash, end of year $ 7,799 $ 25,350 $ 5,239