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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating Activities:      
Net income $ 171,180 $ 155,176 $ 147,334
Non-cash items included in net income:      
Depreciation and amortization 265,409 253,142 232,176
Provision for deferred income taxes (36,837) (18,231) 11,224
Power and natural gas cost amortizations (deferrals), net 7,122 (78,350) (51,847)
Amortization of debt expense 2,935 1,974 2,606
Stock-based compensation expense 8,442 8,717 4,713
Equity-related AFUDC (6,886) (6,704) (7,004)
Pension and other postretirement benefit expense 14,283 32,173 29,077
Other regulatory assets and liabilities (34,189) (15,129) 4,445
Other non-current assets and liabilities 26,207 (5,280) (3,769)
Change in decoupling regulatory deferral (3,328) 33,469 6,056
Realized and unrealized losses (gains) on assets and investments 3,369 (50,006) (23,187)
Other (6,066) 11,957 (2,859)
Contributions to defined benefit pension plan (10,000) (42,000) (42,000)
Cash paid on settlement of interest rate swap agreements (409) (17,035) (17,568)
Cash received on settlement of interest rate swap agreements 7,869   324
Changes in certain current assets and liabilities:      
Accounts and notes receivable 36,855 (56,007) (46,107)
Inventory (52,309) (22,941) (17,282)
Collateral posted for derivative instruments 129,226 (141,014) (17,564)
Income taxes receivable 1,506 (1,125) 20,199
Other current assets (26,037) (6,613) 930
Accounts payable (66,144) 65,928 33,369
Other current liabilities 14,881 22,106 4,074
Net cash provided by operating activities 447,079 124,207 267,340
Investing Activities:      
Utility property capital expenditures (excluding equity-related AFUDC) (498,637) (451,995) (439,939)
Issuance of notes receivable (3,425) (2,745) (1,841)
Equity and property investments (13,380) (10,642) (16,001)
Proceeds from sale of investments 3,200 1,000 8,306
Other 1,853 4,144 4,559
Net cash used in investing activities (510,389) (460,238) (444,916)
Financing Activities:      
Net increase (decrease) in short-term borrowings (114,000) 179,000 81,000
Proceeds from issuance of long-term debt 250,000 399,856 140,000
Maturity of long-term debt and finance leases (16,735) (253,085) (2,935)
Issuance of common stock, net of issuance costs 112,308 137,778 89,998
Cash dividends paid (140,923) (129,061) (118,211)
Other (5,765) (7,197) (4,304)
Net cash provided by financing activities 84,885 327,291 185,548
Net increase (decrease) in cash and cash equivalents 21,575 (8,740) 7,972
Cash and cash equivalents at beginning of year 13,428 22,168 14,196
Cash and cash equivalents at end of year 35,003 13,428 22,168
Cash paid (received) during the year:      
Interest 131,522 107,468 98,592
Income taxes paid 2,501 2,251 3,652
Income tax refunds (800) (86) (22,330)
Non-cash financing and investing activities:      
Accounts payable for capital expenditures $ 33,691 $ 27,708 $ 23,938