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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net Income $ 31,524 $ 42,429 $ 36,543
Net Cash Provided by Operating Activities:      
Depreciation and Amortization 29,442 27,475 26,799
Provision for Deferred Income Taxes (5,599) (5,334) (10,989)
Equity Portion of Allowance for Funds Used During Construction (AFUDC) (1,458) (1,387) (1,505)
Cash Surrender Value of Life Insurance (300) 401 (136)
Stock Compensation Expense 2,214 1,630 1,338
Gain on Sale of Subsidiary (5,232)
Changes in Assets and Liabilities:      
Accounts Receivable (2,154) (707) (742)
Unbilled Revenues (638) (1,386) (208)
Materials & Supplies (795) (819) (246)
Prepayments 791 256 6
Accounts Payable 2,771 3,722 (9,318)
Accrued Taxes (1,627) 3,541 (1,517)
Accrued Interest 603 549 (151)
Employee Benefit Plans (1,340) (4,266) (2,645)
Unearned Revenue & Advanced Service Fees 25 35 75
Other Assets and Liabilities (677) 454 (4,276)
NET CASH PROVIDED BY OPERATING ACTIVITIES 52,782 61,361 33,028
CASH FLOWS FROM INVESTING ACTIVITIES:      
Utility Plant Expenditures, Including AFUDC of $975 in 2023, $927 in 2022 and $1,148 in 2021 (90,179) (91,335) (79,378)
Proceeds from Sale of Subsidiary 3,122
NET CASH USED IN INVESTING ACTIVITIES (90,179) (88,213) (79,378)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Redemption of Long-term Debt (17,463) (7,423) (52,691)
Proceeds from Issuance of Long-term Debt 75,812 2,662 86,595
Net Short-term Bank Borrowings (12,750) 42,500 11,000
Deferred Debt Issuance Expense (131) (624) (994)
Common Stock Issuance Expense (10) (32)
Payment of Grantee Withholding Taxes in Exchange for Restricted Stock (619)
Proceeds from Issuance of Common Stock 12,115 10,335 3,837
Payment of Common Dividends (22,441) (20,810) (19,373)
Payment of Preferred Dividends (120) (120) (120)
Construction Advances and Contributions-Net 1,566 659 11,225
NET CASH PROVIDED BY FINANCING ACTIVITIES 35,959 27,147 39,479
NET CHANGES IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (1,438) 295 (6,871)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD 3,828 3,533 10,404
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD 2,390 3,828 3,533
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITY:      
Utility Plant received as Construction Advances and Contributions 7,259 6,252 4,750
Long-term Debt Deobligation 64
Non-Cash Consideration for Sale of Subsidiary 2,100
Litigation Settlement Receivable 69,872
Litigation Settlement Payable 6,237
Cash Paid During the Year for:      
Interest 12,762 9,251 8,546
Interest Capitalized 975 927 1,148
Income Taxes $ 2,962 $ 3,230 $ 3,335