XML 18 R7.htm IDEA: XBRL DOCUMENT v3.23.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
OPERATING ACTIVITIES:    
Net income $ 11,530 $ 3,737
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 26,842 28,081
Deferred income taxes 1,052 2,264
Stock-based compensation 1,199 1,552
Allowance for equity funds used during construction (180) (510)
Gain on sale of nonutility property 0 (5,450)
Changes in operating assets and liabilities:    
Accounts receivable and accrued unbilled utility revenue 8,177 4,311
Accounts payable and other current liabilities (650) (1,635)
Accrued groundwater extraction charges, purchased water and power (7,968) 2,140
Tax receivable and payable, and other accrued taxes 1,727 1,135
Postretirement benefits 1,667 1,230
Regulatory assets and liabilities excluding income tax temporary differences, net and postretirement benefits 8,367 5,124
Other changes, net (1,156) 3,315
NET CASH PROVIDED BY OPERATING ACTIVITIES 50,607 45,294
INVESTING ACTIVITIES:    
Company-funded (52,384) (43,727)
Contributions in aid of construction (2,703) (4,782)
Payments to retire utility plant, net of salvage (167) (1,087)
Other changes, net 225 154
NET CASH USED IN INVESTING ACTIVITIES (55,029) (49,442)
FINANCING ACTIVITIES:    
Borrowings on line of credit 12,238 15,377
Repayments on line of credit (99,383) (2,375)
Long-term borrowings 70,000 0
Repayments of long-term borrowings (956) (1,172)
Issuance of common stock, net of issuance costs 40,997 0
Dividends paid (11,722) (10,882)
Receipts of advances and contributions in aid of construction 5,597 10,044
Refunds of advances for construction (589) (595)
Other changes, net (771) (279)
NET CASH PROVIDED BY FINANCING ACTIVITIES 15,411 10,118
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 10,989 5,970
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD 12,344 12,119
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD 23,333 18,089
LESS RESTRICTED CASH, END OF PERIOD 0 602
CASH AND CASH EQUIVALENTS, END OF PERIOD 23,333 17,487
Cash paid during the period for:    
Interest 12,062 11,127
Income taxes 198 165
Supplemental disclosure of non-cash activities:    
Accrued payables for additions to utility plant 19,906 20,472
Utility property installed by developers $ 656 $ 546