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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating activities:      
Net income $ 63,116 $ 65,584 $ 72,940
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 91,288 85,707 78,592
Amortization of debt premium and expenses 744 1,099 920
Changes in normalized deferred income taxes 15,346 20,909 21,087
Change in value of life insurance contracts (5,104) 2,334 (3,058)
Allowance for equity funds used during construction (6,685) (3,954) (3,750)
Stock-based compensation 6,731 3,141 3,118
Gain on sale of non-utility properties (28) (50) (663)
Write-off of capital costs 698 410 1,293
Changes in operating assets and liabilities:      
Receivables (4,580) 20,422 (31,871)
Unbilled revenue (1,452) (3,671) (4,528)
Taxes, prepaid expenses, and other assets (3,545) (587) (3,718)
Accounts payable 10,719 4,701 1,564
Other current liabilities 1,282 (4,382) 2,164
Other changes in noncurrent assets and liabilities 264 (12,644) 13,752
Net cash provided by operating activities 168,794 179,019 147,842
Investing activities:      
Utility plant expenditures (273,770) (271,707) (259,194)
Proceeds from sale of non-utility assets 28 59 666
TCP settlement proceeds 0 0 56,004
Life insurance benefits 0 3,491 1,558
Purchase of life insurance (2,216) (4,925) (5,605)
Net cash used in investing activities (275,958) (273,082) (206,571)
Financing activities:      
Short-term borrowings 260,000 151,000 265,000
Repayment of short-term borrowings (150,000) (361,000) (87,000)
Issuance of long-term debt, net of debt issuance costs of $1,796 for 2019, $617 for 2018, $0 for 2017 398,204 299,383 0
Advances and contributions in aid of construction 27,774 18,612 21,369
Refunds of advances for construction (7,566) (7,297) (8,378)
Retirement of long-term debt (405,568) (16,532) (26,829)
Repurchase of common stock (2,497) (1,645) (1,505)
Issuance of common stock 20,423 0 0
Dividends paid (38,023) (36,043) (34,563)
Net cash provided by financing activities 102,747 46,478 128,094
Change in cash, cash equivalents, and restricted cash (4,417) (47,585) 69,365
Cash, cash equivalents, and restricted cash at beginning of year 47,715 95,300 25,935
Cash, cash equivalents, and restricted cash at end of year 43,298 47,715 95,300
Cash paid (received) during the year for:      
Interest (net of amounts capitalized) 40,980 35,941 32,223
Income tax refunds 0 0 (1,697)
Supplemental disclosure of investing and financing non-cash activities:      
Accrued payables for investments in utility plant 40,794 38,807 41,017
Utility plant contributed by developers 16,288 20,609 19,898
Litigation proceeds for TCP and MTBE contamination reclassified from liability to depreciable plant and equipment $ 13,968 $ 32,315 $ 2,420