XML 128 R5.htm IDEA: XBRL DOCUMENT v3.3.0.814
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 180,960 $ 141,970 $ 114,809
Adjustments to reconcile net income to cash flows from operating activities      
Unrealized (gain) loss on derivative instruments (38,681) 28,534 (9,417)
Depreciation and amortization 61,399 52,742 47,310
Impairment loss on investment 0 6,351 0
Allowance for equity used during construction (3,825) (1,562) (2,037)
Allowance for bad debt expense 2,859 2,504 2,627
Deferred income taxes 45,934 18,421 41,075
Manufactured gas plant remediation costs (6,805) (4,396) (6,166)
Equity in earnings of equity investees, net of distributions received 6,663 2,589 3,299
Cost of removal - asset retirement obligations (1,034) (1,153) (1,697)
Contributions to postemployment benefit plans (5,778) (4,953) (26,028)
Changes in:      
Components of working capital 81,817 85,480 (60,316)
Other noncurrent assets 38,716 10,484 9,496
Other noncurrent liabilities 25,695 19,775 1,039
Cash flows from operating activities 387,920 356,786 113,994
CASH FLOWS (USED IN) INVESTING ACTIVITIES      
Expenditures for Utility plant (140,797) (128,254) (110,482)
Expenditures for Solar and wind equipment (151,002) (135,543) (59,125)
Expenditures for Real estate properties and other (209) (1,179) (1,042)
Expenditures for Cost of removal (28,078) (24,312) (26,601)
Investments in equity investees (5,780) (555) 0
Distribution from equity investees in excess of equity in earnings 2,620 1,150 3,079
(Payment to) withdrawal from restricted cash construction fund (1,499) 88 56
Proceeds from sale of investment 3,016 0 0
Proceeds from sale of property 0 6,010 0
Proceeds from sale of available for sale securities 0 0 482
Cash flows (used in) investing activities (321,729) (282,595) (193,633)
CASH FLOWS (USED IN) FROM FINANCING ACTIVITIES      
Proceeds from issuance of common stock 37,299 15,373 37,839
Tax benefit from stock options exercised 881 414 173
Proceeds from sale-leaseback transaction 7,216 7,576 7,076
Proceeds from long-term debt 250,000 125,000 50,000
Payments of long-term debt (37,039) (82,586) (8,953)
Purchases of treasury stock (10,589) (5,522) (26,606)
Payments of common stock dividends (76,532) (70,664) (67,230)
Net (payments of) proceeds from short-term debt (234,650) (64,600) 85,800
Cash flows (used in) from financing activities (63,414) (75,009) 78,099
Change in cash and cash equivalents 2,777 (818) (1,540)
Cash and cash equivalents at beginning of period 2,151 2,969 4,509
Cash and cash equivalents at end of period 4,928 2,151 2,969
CHANGES IN COMPONENTS OF WORKING CAPITAL      
Receivables 32,529 48,032 (72,244)
Inventories 114,638 43,130 (55,755)
Recovery of gas costs 18,979 13,015 6,100
Gas purchases payable (54,525) (47,528) 72,415
Gas purchases payable - related parties 202 14 (16)
Prepaid and accrued taxes (18,161) 21,133 (8,182)
Accounts payable and other (14,714) 34,716 726
Restricted broker margin accounts 18,452 (20,758) 15,348
Customers' credit balances and deposits (1,545) (2,058) (24,059)
Other current assets (14,038) (4,216) 5,351
Components of working capital 81,817 85,480 (60,316)
Cash paid for:      
Interest (net of amounts capitalized) 24,208 22,458 20,414
Income taxes 28,790 22,447 12,039
Accrued capital expenditures 28,676 9,655 (7,103)
Deferred gain on non-cash exchange of investments $ 24,601 $ 0 $ 0