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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net Income $ 33,888 $ 32,452 $ 22,809
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:      
Depreciation and Amortization 17,232 15,780 14,846
Provision for Deferred Income Taxes and ITC (11,719) (8,724) 7,944
Equity Portion of AFUDC (1,997) (919) (481)
Cash Surrender Value of Life Insurance (252) 27 (209)
Stock Compensation Expense 637 1,084 840
Changes in Assets and Liabilities:      
Accounts Receivable (146) (977) (656)
Unbilled Revenues 110 (294) (409)
Materials & Supplies (34) 1,293 (24)
Prepayments 277 (236) (384)
Accounts Payable 3,981 5,396 1,586
Accrued Taxes (6,595) 2,812 (967)
Accrued Interest 742 196 9
Employee Benefit Plans (1,112) (2,114) (1,920)
Unearned Revenue & Advanced Service Fees 175 85 28
Other Assets and Liabilities 866 2,589 (169)
NET CASH PROVIDED BY OPERATING ACTIVITIES 36,053 45,864 42,843
CASH FLOWS FROM INVESTING ACTIVITIES:      
Utility Plant Expenditures, Including AFUDC of $1,149 in 2019, $443 in 2018 and $221 in 2017 (89,125) (72,094) (50,301)
NET CASH USED IN INVESTING ACTIVITIES (89,125) (72,094) (50,301)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Redemption of Long-term Debt (7,343) (7,024) (6,159)
Proceeds from Issuance of Long-term Debt 78,967 22,076 11,523
Proceeds from Premium Issuance of Long-term Debt 7,083  
Net Short-term Bank Borrowings (28,500) 20,500 16,000
Deferred Debt Issuance Expense (769) (880) (230)
Common Stock Issuance Expense (357)  
Proceeds from Issuance of Common Stock 56,784 1,150 1,234
Payment of Common Dividends (16,165) (14,930) (14,002)
Payment of Preferred Dividends (132) (144) (144)
Construction Advances and Contributions-Net 4,342 4,746 1,315
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 93,910 25,494 9,537
NET CHANGES IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 40,838 (736) 2,079
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD 5,661 6,397 4,318
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD 46,499 5,661 6,397
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITY:      
Utility Plant received as Construction Advances and Contributions 7,770 3,835 3,778
Long-term Debt Deobligation 130
Cash Paid During the Year for:      
Interest 6,938 6,113 5,616
Interest Capitalized 1,149 443 221
Income Taxes $ 10,339 $ 4,689 $ 2,754