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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Cash flows from operating activities    
Net income [1] $ 32,339 $ 46,260
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation of property, plant and equipment [1] 45,865 43,181
Other amortization [1] 2,371 1,609
Provision for loan losses [1] 614 995
Loans receivable originated and purchased, held for sale [1] (79,070) (46,998)
Proceeds from sale of loans receivable, held for sale [1] 78,332 48,720
Increase in deferred income taxes [1] 3,828 6,457
Share-based compensation expense [1] 1,754 2,361
Excess tax benefits from share-based payment arrangements [1] (968) (164)
Allowance for equity funds used during construction [1] (1,413) (1,609)
Change in cash overdraft [1] 0 (1,038)
Changes in assets and liabilities    
Decrease in accounts receivable and unbilled revenues, net [1] 58,331 22,352
Decrease (increase) in fuel oil stock [1] 20,731 (34,260)
Increase in regulatory assets [1] (10,827) (9,258)
Increase in accounts, interest and dividends payable [1] 22,053 15,306
Change in prepaid and accrued income taxes and utility revenue taxes [1] (9,461) (19,474)
Increase (decrease) in defined benefit pension and other postretirement benefit plans liability [1] 123 (818)
Change in other assets and liabilities [1] (25,992) (29,931)
Net cash provided by operating activities [1] 138,610 43,691
Cash flows from investing activities    
Available-for-sale investment securities purchased [1] (63,370) (79,912)
Principal repayments on available-for-sale investment securities [1] 28,486 15,597
Proceeds from sale of available-for-sale investment securities [1] 0 79,564
Redemption of stock from Federal Home Loan Bank [1] 5,590 5,848
Net increase in loans held for investment [1] (12,524) (37,887)
Proceeds from sale of real estate acquired in settlement of loans [1] 606 1,429
Capital expenditures [1] (123,527) (90,442)
Contributions in aid of construction [1] 9,145 6,958
Other [1] 3,549 343
Net cash used in investing activities [1] (152,045) (98,502)
Cash flows from financing activities    
Net increase in deposit liabilities [1] 127,913 105,510
Net increase (decrease) in short-term borrowings with original maturities of three months or less [1] (88,472) 30,887
Net increase in retail repurchase agreements [1] 21,451 141
Excess tax benefits from share-based payment arrangements [1] 968 164
Net proceeds from issuance of common stock [1] 104,468 3,054
Common stock dividends [1] (31,829) (31,435)
Preferred stock dividends of subsidiaries [1] (473) (473)
Other [1] (3,965) (3,953)
Net cash provided by financing activities [1] 130,061 103,895
Net increase in cash and cash equivalents [1] 116,626 49,084
Cash and cash equivalents, beginning of period [1] 175,542 220,036
Cash and cash equivalents, end of period [1] $ 292,168 $ 269,120
[1] As restated - See Note 1, “Basis of presentation - Restatement of previously issued financial statements.”