XML 17 R5.htm IDEA: XBRL DOCUMENT v3.23.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income $ 15,767 $ 20,968
Net Cash Provided by Operating Activities:    
Depreciation and Amortization 14,543 13,401
Provision for Deferred Income Taxes and Investment Tax Credits (2,993) (3,256)
Equity Portion of Allowance for Funds Used During Construction (AFUDC) (1,014) (532)
Cash Surrender Value of Life Insurance (207) 445
Stock Compensation Expense 1,366 909
Gain on Sale of Subsidiary (5,232)
Changes in Assets and Liabilities:    
Accounts Receivable 788 682
Unbilled Revenues (2,408) (3,016)
Materials & Supplies (249) (349)
Prepayments (846) (1,195)
Accounts Payable 3,418 3,124
Accrued Taxes 843 3,893
Accrued Interest 563 170
Employee Benefit Plans (975) (1,310)
Unearned Revenue & Advanced Service Fees 111 165
Other Assets and Liabilities 580 (2,006)
NET CASH PROVIDED BY OPERATING ACTIVITIES 29,287 26,861
CASH FLOWS FROM INVESTING ACTIVITIES:    
Utility Plant Expenditures, Including AFUDC of $651 in 2023 and $394 in 2022 (50,635) (39,343)
Proceeds from Sale of Subsidiary 3,122
NET CASH USED IN INVESTING ACTIVITIES (50,635) (36,221)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Redemption of Long-term Debt (2,553) (2,162)
Proceeds from Issuance of Long-term Debt 62,880 2,287
Net Short-term Bank Borrowings (32,000) 14,500
Deferred Debt Issuance Expense (107) (82)
Proceeds from Issuance of Common Stock 5,745 7,039
Payment of Common Dividends (11,049) (10,184)
Payment of Preferred Dividends (60) (60)
Construction Advances and Contributions-Net (959) (1,191)
NET CASH PROVIDED BY FINANCING ACTIVITIES 21,897 10,147
NET CHANGES IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 549 787
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD 3,828 3,533
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD 4,377 4,320
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITY:    
Utility Plant received as Construction Advances and Contributions 4,219 4,321
Non-Cash Consideration for Sale of Subsidiary 2,100
Cash Paid During the Year for:    
Interest 5,491 4,245
Interest Capitalized 651 394
Income Taxes $ 260 $ 575