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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating Activities:      
Net income $ 147,334 $ 129,488 $ 196,763
Non-cash items included in net income:      
Depreciation and amortization 232,176 224,223 205,994
Provision for deferred income taxes 11,224 44,964 15,098
Power and natural gas cost amortizations (deferrals), net (51,847) (9,923) (45,917)
Amortization of debt expense 2,606 3,237 2,680
Amortization of investment in exchange power     1,633
Stock-based compensation expense 4,713 5,846 11,353
Equity-related AFUDC (7,004) (6,970) (6,585)
Pension and other postretirement benefit expense 29,077 33,812 36,417
Other regulatory assets and liabilities and deferred debits and credits 676 10,287 65
Change in decoupling regulatory deferral 6,056 2,971 (10,327)
Realized and unrealized gain on assets and investments (23,187) (5,170) (13,077)
Other (2,859) 2,373 (7,899)
Contributions to defined benefit pension plan (42,000) (22,000) (22,000)
Cash paid on settlement of interest rate swap agreements (17,568) (33,499) (13,325)
Cash received on settlement of interest rate swap agreements 324    
Changes in certain current assets and liabilities:      
Accounts and notes receivable (46,107) (10,960) (4,366)
Materials and supplies, fuel stock and stored natural gas (17,282) (868) (6,148)
Collateral posted for derivative instruments (17,564) 1,579 63,974
Income taxes receivable 20,199 (41,363) (8,736)
Other current assets 930 (2,401) (3,657)
Accounts payable 33,369 (10,152) 7,471
Other current liabilities 4,074 15,530 (1,199)
Net cash provided by operating activities 267,340 331,004 398,212
Investing Activities:      
Utility property capital expenditures (excluding equity-related AFUDC) (439,939) (404,306) (442,510)
Issuance of notes receivable (1,841) (4,393) (7,303)
Equity and property investments (16,001) (5,925) (13,508)
Proceeds from sale of investments 8,306 6,786 16,407
Other (4,559) (2,905) 1,403
Net cash used in investing activities (444,916) (410,743) (445,511)
Financing Activities:      
Net increase (decrease) in short-term borrowings 81,000 17,200 (4,200)
Proceeds from issuance of long-term debt 140,000 165,000 180,000
Maturity of long-term debt and finance leases (2,935) (54,800) (92,660)
Issuance of common stock, net of issuance costs 89,998 72,200 64,573
Cash dividends paid (118,211) (110,254) (102,772)
Other (4,304) (5,307) (2,402)
Net cash provided by financing activities 185,548 84,039 42,539
Net increase (decrease) in cash and cash equivalents 7,972 4,300 (4,760)
Cash and cash equivalents at beginning of year 14,196 9,896 14,656
Cash and cash equivalents at end of year 22,168 14,196 9,896
Cash paid (received) during the year:      
Interest 98,592 97,717 99,060
Income taxes paid 3,652 1,901 26,764
Income tax refunds (22,330) (918) (979)
Non-cash financing and investing activities:      
Accounts payable for capital expenditures $ 23,938 $ 32,039 $ 25,644