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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Operating activities    
Net income $ 24,000 $ 31,400
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 34,300 31,000
Deferred income taxes (200) 1,800
Amortization of investment tax credits (100) 100
Allowance for equity funds used during construction (600) (1,900)
Changes in operating assets and liabilities:    
Accounts receivable (12,600) (9,500)
Accrued unbilled revenues 10,600 12,000
Inventories 4,700 6,100
Other current assets 10,700 5,900
Accounts payable (8,800) (15,900)
Net regulatory assets and liabilities 3,700 10,500
Other current liabilities 6,100 (1,800)
Pension and other employee benefit obligations (7,400) (9,200)
Net cash provided by operating activities 64,600 60,700
Increase (Decrease) in Other Operating Assets and Liabilities, Net 200 200
Investing activities    
Utility capital/construction expenditures (50,400) (56,600)
Other, net (100) (200)
Net cash used in investing activities (50,500) (56,800)
Financing activities    
(Repayments of) and proceeds from short-term borrowings, net (2,000) 11,000
Repayments of long-term debt (100) 0
Capital contributions from parent 14,900 3,300
Dividends paid to parent (27,400) (15,500)
Other, net 0 (300)
Net cash provided by (used in) financing activities (14,600) (1,500)
Net change in cash and cash equivalents (500) 2,400
Cash and cash equivalents at beginning of period 2,200 1,400
Cash and cash equivalents at end of period 1,700 3,800
Supplemental disclosure of cash flow information:    
Cash paid for interest (net of amounts capitalized) (10,400) (5,800)
Cash (paid) received for income taxes, net 6,500 (7,000)
Supplemental disclosure of non-cash investing transactions:    
Accrued property, plant and equipment additions 9,000 27,300
Inventory transfers to plant, property and equipment 700 1,300
Allowance for equity funds used during construction $ 600 $ 1,900