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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities    
Net income $ 118,974 $ 136,293
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation of property, plant and equipment 137,721 129,574
Other amortization 12,080 5,081
Provision for loan losses 5,436 3,566
Loans receivable originated and purchased, held for sale (226,081) (102,523)
Proceeds from sale of loans receivable, held for sale 231,509 106,918
Increase in deferred income taxes 2,723 50,296
Share-based compensation expense 4,780 7,200
Excess tax benefits from share-based payment arrangements (1,012) (271)
Allowance for equity funds used during construction (5,366) (4,933)
Change in cash overdraft 0 (1,038)
Changes in assets and liabilities    
Decrease (increase) in accounts receivable and unbilled revenues, net 8,248 (18,943)
Decrease in fuel oil stock 35,942 15,784
Increase in regulatory assets (23,458) (17,531)
Decrease in accounts, interest and dividends payable (34,171) (51,199)
Change in prepaid and accrued income taxes and utility revenue taxes (8,458) (2,044)
Increase (decrease) in defined benefit pension and other postretirement benefit plans liability 418 (2,594)
Change in other assets and liabilities (38,033) (56,326)
Net cash provided by operating activities 221,252 197,310
Cash flows from investing activities    
Available-for-sale investment securities purchased (326,965) (130,578)
Principal repayments on available-for-sale investment securities 96,053 52,678
Proceeds from sale of available-for-sale investment securities 0 79,564
Purchase of stock from Federal Home Loan Bank (1,600) 0
Redemption of stock from Federal Home Loan Bank 60,223 17,482
Net increase in loans held for investment (101,771) (184,766)
Proceeds from sale of real estate acquired in settlement of loans 1,258 2,930
Proceeds from sale of real estate held-for-sale 7,280 0
Capital expenditures (276,186) (260,616)
Contributions in aid of construction 34,627 21,740
Other 4,084 674
Net cash used in investing activities (502,997) (400,892)
Cash flows from financing activities    
Net increase in deposit liabilities 202,539 161,320
Net increase in short-term borrowings with original maturities of three months or less 53,020 45,094
Net increase (decrease) in retail repurchase agreements 67,934 (6,306)
Proceeds from other bank borrowings 50,000 90,000
Repayments of other bank borrowings (40,000) (65,000)
Proceeds from issuance of long-term debt 0 125,000
Repayment of long-term debt 0 (100,000)
Excess tax benefits from share-based payment arrangements 1,012 271
Net proceeds from issuance of common stock 104,437 26,910
Common stock dividends (98,452) (94,674)
Preferred stock dividends of subsidiaries (1,417) (1,417)
Other (4,453) (5,097)
Net cash provided by financing activities 334,620 176,101
Net increase (decrease) in cash and cash equivalents 52,875 (27,481)
Cash and cash equivalents, beginning of period 175,542 220,036
Cash and cash equivalents, end of period $ 228,417 $ 192,555