XML 31 R5.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating Activities      
Net Income $ 65,153 $ 56,580 $ 58,124
Adjustments to reconcile net income to net operating cash:      
Depreciation and amortization 45,900 40,802 36,599
Depreciation and accretion included in operations expenses 8,752 8,535 8,122
Deferred income taxes, net 24,476 21,226 11,085
Gain on sale of discontinued operations (7,344) 0 0
Realized gain (loss) on sale of assets/commodity contracts (4,135) 5,497 3,179
Unrealized loss (gain) on investments/commodity contracts (1,595) 429 (1,001)
Employee benefits and compensation 1,985 856 1,577
Share-based compensation 4,279 2,813 2,490
Other, net 0 0 (750)
Changes in assets and liabilities:      
Accounts receivable and accrued revenue 36,489 (16,311) (19,506)
Propane inventory, storage gas and other inventory 8,227 2,107 (9,036)
Regulatory assets/liabilities, net (7,812) 2,250 (2,855)
Prepaid expenses and other current assets 11,115 (7,421) (7,001)
Accounts payable and other accrued liabilities (62,021) 35,907 15,596
Income taxes receivable (payable) (4,750) (522) 8,110
Customer deposits and refunds (1,811) (596) 5,513
Accrued compensation 2,120 708 2,488
Other assets and liabilities, net (16,064) (35,498) (2,645)
Net cash provided by operating activities 102,964 117,362 110,089
Investing Activities      
Property, plant and equipment expenditures (184,727) (240,351) (175,329)
Proceeds from sale of assets 427 782 708
Acquisitions, net of cash acquired (23,988) (16,654) (11,945)
Proceeds from the sale of discontinued operations 22,871    
Environmental expenditures (1,170) (625) (329)
Net cash used in investing activities (186,587) (256,848) (186,895)
Financing Activities      
Common stock dividends (24,693) (22,043) (19,928)
Issuance of stock for Dividend Reinvestment Plan (721) (706) 89
Proceeds from issuance of common stock, net of expenses 0 0 (10) [1]
Payment, Tax Withholding, Share-based Payment Arrangement (692) (1,210) (692)
Change in cash overdrafts due to outstanding checks (1,174) (5,943) 1,738
Net borrowings (repayments) under line of credit agreements (45,913) 49,432 39,338
Proceeds from issuance of long-term debt 199,648 154,819 69,807
Repayment of long-term debt and finance lease obligation (41,936) (34,388) (12,100)
Net cash provided by financing activities 84,519 139,961 78,242
Net Increase in Cash and Cash Equivalents 896 475 1,436
Cash and Cash Equivalents — Beginning of Period 6,089 5,614 4,178
Cash and Cash Equivalents — End of Period $ 6,985 $ 6,089 $ 5,614
[1] Represents capitalized legal fees associated with our September 22, 2016 public offering.