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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net Income $ 42,429 $ 36,543 $ 38,425
Net Cash Provided by Operating Activities:      
Depreciation and Amortization 27,475 26,799 20,838
Provision for Deferred Income Taxes (5,334) (10,989) (13,490)
Equity Portion of Allowance for Funds Used During Construction (AFUDC) (1,387) (1,505) (2,503)
Cash Surrender Value of Life Insurance 401 (136) (391)
Stock Compensation Expense 1,630 1,338 1,096
Gain on Sale of Subsidiary (5,232)
Changes in Assets and Liabilities:      
Accounts Receivable (707) (742) (2,661)
Unbilled Revenues (1,386) (208) 118
Materials & Supplies (819) (246) 333
Prepayments 256 6 (519)
Accounts Payable 3,722 (9,318) 7,137
Accrued Taxes 3,541 (1,517) 2,503
Accrued Interest 549 (151) 106
Employee Benefit Plans (4,266) (2,645) (1,377)
Unearned Revenue & Advanced Service Fees 35 75 44
Other Assets and Liabilities 454 (4,276) 3,696
NET CASH PROVIDED BY OPERATING ACTIVITIES 61,361 33,028 53,355
CASH FLOWS FROM INVESTING ACTIVITIES:      
Utility Plant Expenditures, Including AFUDC of $927 in 2022, $1,148 in 2021 and $1,513 in 2020 (91,335) (79,378) (105,619)
Proceeds from Sale of Subsidiary 3,122
NET CASH USED IN INVESTING ACTIVITIES (88,213) (79,378) (105,619)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Redemption of Long-term Debt (7,423) (52,691) (7,472)
Proceeds from Issuance of Long-term Debt 2,662 86,595 50,316
Net Short-term Bank Borrowings 42,500 11,000 (18,000)
Deferred Debt Issuance Expense (624) (994) (148)
Common Stock Issuance Expense (32) (37)
Proceeds from Issuance of Common Stock 10,335 3,837 1,230
Payment of Common Dividends (20,810) (19,373) (18,178)
Payment of Preferred Dividends (120) (120) (120)
Construction Advances and Contributions-Net 659 11,225 8,578
NET CASH PROVIDED BY FINANCING ACTIVITIES 27,147 39,479 16,169
NET CHANGES IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 295 (6,871) (36,095)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD 3,533 10,404 46,499
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD 3,828 3,533 10,404
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITY:      
Utility Plant received as Construction Advances and Contributions 6,252 4,750 5,080
Long-term Debt Deobligation 64 258
Non-Cash Consideration for Sale of Subsidiary 2,100
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION:      
Interest 9,251 8,546 7,644
Interest Capitalized 927 1,148 1,513
Income Taxes $ 3,230 $ 3,335 $ 2,509