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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 $ 500,826 $ 635,944 $ 570,052
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization including nuclear fuel 817,814 719,141 686,253
Deferred fuel and purchased power (291,992) (256,871) (93,651)
Deferred fuel and purchased power amortization 219,579 44,557 (12,047)
Allowance for equity funds used during construction (45,263) (41,737) (33,776)
Deferred income taxes 43,202 117,471 69,469
Deferred investment tax credit (5,893) (4,802) (5,096)
Change in derivative instruments fair value 777 0 0
Stock compensation 15,942 18,460 18,292
Changes in current assets and liabilities:      
Customer and other receivables (63,869) (72,559) (18,191)
Accrued unbilled revenues (30,784) (1,783) (4,032)
Materials, supplies and fossil fuel (83,469) (32,870) 11,623
Income tax receivable (6,572) (722) 14,935
Other current assets 76,067 (22,720) (30,640)
Accounts payable 90,076 20,267 (6,059)
Accrued taxes (4,205) 9,094 14,652
Other current liabilities (6,056) (52,086) 22,520
Change in margin and collateral accounts — assets 22 (50) 404
Change in margin and collateral accounts — liabilities 4,200 350 100
Change in unrecognized tax benefits (1,989) (568) 2,220
Change in long-term regulatory liabilities (332,470) 57,549 13,017
Change in other long-term assets 276,821 (246,473) (67,453)
Change in other long-term liabilities 68,677 (29,578) (186,227)
Net cash provided by operating activities 1,241,441 860,014 966,365
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (1,707,490) (1,473,475) (1,326,584)
Contributions in aid of construction 137,436 105,654 62,503
Allowance for borrowed funds used during construction (28,030) (21,052) (18,530)
Proceeds from nuclear decommissioning trust sales and other special use funds 1,207,713 1,720,966 819,518
Investment in nuclear decommissioning trust and other special use funds (1,212,063) (1,725,480) (822,608)
Other (15,612) 6,458 7,883
Net cash used for investing activities (1,618,046) (1,386,929) (1,277,818)
CASH FLOWS FROM FINANCING ACTIVITIES      
Issuance of long-term debt 875,537 746,999 1,596,672
Repayment of long-term debt (150,000) 0 (915,150)
Short-term borrowings and (repayments) — net 48,720 142,000 73,325
Short-term debt borrowings under revolving credit facility 0 0 751,690
Short-term debt repayments under revolving credit facility 0 (19,000) (770,690)
Dividends paid on common stock (378,881) (369,478) (350,577)
Common stock equity issuance and purchases — net (2,653) (2,350) (1,389)
Distributions to noncontrolling interests (21,255) (21,255) (22,743)
Net cash provided by financing activities 371,468 476,916 361,138
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (5,137) (49,999) 49,685
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 9,969 59,968 10,283
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 4,832 $ 9,969 $ 59,968