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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities      
Net income $ 203,664 $ 167,187 $ 250,146
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation of property, plant and equipment 214,036 200,658 194,273
Other amortization 41,593 21,340 10,473
Provision for loan losses 14,745 10,901 16,763
Loans originated and purchased, held for sale (109,537) (115,104) (236,769)
Proceeds from sale of loans, held for sale 112,182 127,951 236,062
Deferred income taxes (9,368) 37,835 47,118
Share-based compensation expense 7,792 5,404 4,789
Allowance for equity funds used during construction (10,877) (12,483) (8,325)
Other (4,219) (3,324) (12,422)
Changes in assets and liabilities      
Increase in accounts receivable and unbilled revenues, net (64,321) (12,875) (898)
Decrease (increase) in fuel oil stock 7,054 (20,794) 4,786
Decrease (increase) in regulatory assets 9,252 (17,256) (18,273)
Increase (decrease) in accounts, interest and dividends payable 21,528 34,985 (9,643)
Change in prepaid and accrued income taxes, tax credits and utility revenue taxes 29,429 20,685 39,109
Increase in defined benefit pension and other postretirement benefit plans liability 20,871 882 1,587
Change in other assets and liabilities 15,488 (25,551) (23,118)
Net cash provided by operating activities 499,312 420,441 495,658
Cash flows from investing activities      
Available-for-sale investment securities purchased (224,335) (528,379) (533,956)
Principal repayments on available-for-sale investment securities 218,930 220,231 219,845
Proceeds from sale of available-for-sale investment securities 0 0 16,423
Purchases of held-to-maturity investment securities (103,184) (44,515) 0
Proceeds from repayments or maturities of held-to-maturity investment securities 5,720 0 0
Purchase of stock from Federal Home Loan Bank (28,292) (2,868) (7,773)
Redemption of stock from Federal Home Loan Bank 28,040 4,380 7,233
Net decrease (increase) in loans held for investment (189,352) 15,887 (194,042)
Proceeds from sale of commercial loans 7,149 36,760 52,299
Proceeds from sale of real estate acquired in settlement of loans 589 1,019 829
Proceeds from sale of real estate held for sale 0 0 1,764
Capital expenditures (537,369) (495,187) (330,043)
Contributions in aid of construction 30,599 64,733 30,100
Contributions to low income housing investments (14,499) (17,505) 0
Acquisition of business 0 (76,323) 0
Other, net 13,945 6,468 856
Net cash used in investing activities (792,059) (815,299) (736,465)
Cash flows from financing activities      
Net increase in deposit liabilities 165,880 341,668 523,675
Net increase (decrease) in short-term borrowings with original maturities of three months or less (18,999) 67,992 (103,063)
Proceeds from issuance of short-term debt 25,000 125,000 0
Repayment of short-term debt (50,000) (75,000) 0
Net increase (decrease) in retail repurchase agreements 26,556 61,776 (43,601)
Proceeds from other bank borrowings 696,000 59,500 180,835
Repayments of other bank borrowings (701,000) (123,034) (272,902)
Proceeds from issuance of long-term debt 250,000 532,325 115,000
Repayment of long-term debt and funds transferred for redemption of special purpose revenue bonds (53,887) (465,000) (75,000)
Withheld shares for employee taxes on vested share-based compensation (996) (3,828) (2,416)
Net proceeds from issuance of common stock 0 0 13,220
Common stock dividends (134,987) (134,873) (117,274)
Preferred stock dividends of subsidiaries (1,890) (1,890) (1,890)
Other (1,603) (6,349) 2,197
Net cash used in financing activities 200,074 378,287 218,781
Net decrease in cash and equivalents (92,673) (16,571) (22,026)
Cash and cash equivalents, January 1 261,881 278,452 300,478
Cash and cash equivalents, December 31 $ 169,208 $ 261,881 $ 278,452