XML 23 R6.htm IDEA: XBRL DOCUMENT v3.8.0.1
Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 12,974 $ 11,846 $ 12,489
Adjustments to reconcile net income to net cash provided by operating activities:      
Gain on sale of land 0 (36) 0
Depreciation and amortization 6,769 6,422 6,151
Stock-based compensation 46 22 0
Increase in deferred income taxes 2,484 1,646 2,270
Other 54 331 317
Changes in assets and liabilities:      
Increase in accounts receivable and unbilled revenues (572) (867) (73)
(Increase) decrease in recoverable income taxes 282 767 (92)
Increase in materials and supplies, prepaid expenses, regulatory and other assets (507) (3,098) (3,310)
Increase (decrease) in accounts payable, accrued compensation and benefits, accrued expenses, deferred employee benefits, and other deferred credits (2,018) 2,387 3,009
Increase (decrease) in accrued interest and taxes 599 (55) (51)
Net cash provided by operating activities 20,111 19,365 20,710
CASH FLOWS FROM INVESTING ACTIVITIES:      
Utility plant additions, including debt portion of allowance for funds used during construction of $483 in 2017, $127 in 2016 and $115 in 2015 (24,602) (13,158) (13,844)
Acquisitions of water and wastewater systems (472) (50) (352)
Proceeds from sale of land 0 40 0
Decrease in notes receivable 0 0 11
Cash received from surrender of life insurance policies 0 642 0
Net cash used in investing activities (25,074) (12,526) (14,185)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Customers' advances for construction and contributions in aid of construction 1,642 1,769 1,117
Repayments of customer advances (413) (443) (447)
Proceeds of long-term debt issues 22,878 0 14,301
Debt issuance costs 0 0 (298)
Repayments of long-term debt (17,533) (53) (11,886)
Borrowings under short-term line of credit agreements 1,000 0 0
Changes in cash overdraft position 769 0 0
Repurchase of common stock (1,263) (1,339) (2,546)
Issuance of common stock 1,905 2,513 2,307
Dividends paid (8,229) (7,956) (7,682)
Net cash provided by (used in) financing activities 756 (5,509) (5,134)
Net change in cash and cash equivalents (4,207) 1,330 1,391
Cash and cash equivalents at beginning of period 4,209 2,879 1,488
Cash and cash equivalents at end of period 2 4,209 2,879
Cash paid during the period for:      
Interest, net of amounts capitalized 4,652 5,051 4,985
Income taxes $ 758 $ 2,509 $ 2,155
Supplemental disclosure of non-cash investing and financing activities:      
Accounts payable includes $1,498 in 2017, $2,766 in 2016 and $720 in 2015 for the construction of utility plant.