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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
OPERATING ACTIVITIES:    
Net income $ 29,816 $ 15,295
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 53,510 53,830
Deferred income taxes 8,706 2,239
Stock-based compensation 2,338 2,593
Allowance for equity funds used during construction (1,111) (1,084)
Gain on sale of nonutility property 0 (5,450)
Changes in operating assets and liabilities:    
Accounts receivable and accrued unbilled utility revenue (3,687) (8,487)
Accounts payable and other current liabilities (107) (1,158)
Accrued groundwater extraction charges, purchased water and power 3,300 7,598
Tax receivable and payable, and other accrued taxes (3,367) (22)
Postretirement benefits (628) 459
Regulatory assets and liabilities excluding income tax temporary differences, net and postretirement benefits 12,142 17,284
Other changes, net (3,548) 501
NET CASH PROVIDED BY OPERATING ACTIVITIES 97,364 83,598
INVESTING ACTIVITIES:    
Company-funded (115,749) (101,611)
Contributions in aid of construction (9,287) (13,332)
Additions to real estate investments 0 (546)
Payments to retire utility plant, net of salvage (468) (1,836)
Proceeds from sale of nonutility properties 0 227
Other changes, net 125 (33)
NET CASH USED IN INVESTING ACTIVITIES (125,379) (117,131)
FINANCING ACTIVITIES:    
Borrowings on line of credit 39,828 88,664
Repayments on line of credit (116,095) (10,324)
Long-term borrowings 70,000 15,000
Repayments of long-term borrowings (1,560) (51,612)
Issuance of common stock, net of issuance costs 63,779 0
Dividends paid (23,669) (21,771)
Receipts of advances and contributions in aid of construction 11,047 15,769
Refunds of advances for construction (1,341) (1,345)
Other changes, net (844) (316)
NET CASH PROVIDED BY FINANCING ACTIVITIES 41,145 34,065
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 13,130 532
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD 12,344 12,119
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD 25,474 12,651
LESS RESTRICTED CASH, END OF PERIOD 0 602
Cash and cash equivalents 25,474 12,049
Cash paid during the period for:    
Interest 31,656 30,189
Income taxes 655 458
Supplemental disclosure of non-cash activities:    
Accrued payables for additions to utility plant 27,580 18,502
Utility property installed by developers $ 938 $ 1,066