XML 19 R5.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities:    
Net income $ 71,671 $ 56,239
Adjustments to reconcile net income to cash provided by operations:    
Depreciation 31,465 28,429
Regulatory amortization of gas reserves 833 1,481
Deferred income taxes 5,228 8,780
Qualified defined benefit pension plan (benefit) expense (791) 1,441
Deferred environmental expenditures, net (4,113) (4,345)
Environmental remediation expense 5,375 4,703
Asset optimization revenue sharing bill credits (10,471) (41,102)
Other 8,509 6,325
Changes in assets and liabilities:    
Receivables, net 38,727 38,664
Inventories 46,129 23,885
Income and other taxes 25,567 14,436
Accounts payable (47,773) (16,487)
Deferred gas costs (11,300) 11,728
Asset optimization revenue sharing 7,769 (646)
Decoupling mechanism (1,303) 4,434
Change in Cloud-based software Assets (3,673) (416)
Other, net 15,012 3,488
Cash provided by operating activities 176,861 141,037
Investing activities:    
Capital expenditures (71,265) (68,514)
Acquisitions, net of cash acquired (468) 0
Other (1,285) (1,236)
Cash used in investing activities (73,018) (69,750)
Financing activities:    
Proceeds from common stock issued, net 16,669 9,938
Long-term debt issued 200,000 0
Changes in other short-term debt, net (185,700) (57,000)
Cash dividend payments on common stock (16,532) (14,452)
Other (3,250) (1,250)
Cash used in financing activities 11,187 (62,764)
Cash, cash equivalents and restricted cash 155,994 35,643
Increase (decrease) in cash, cash equivalents and restricted cash 115,030 8,523
Supplemental disclosure of cash flow information:    
Interest paid, net of capitalization 14,904 7,977
Income taxes paid, net of refunds 1,300 773
Northwest Natural Gas Company [Member]    
Operating activities:    
Net income 75,540 57,416
Adjustments to reconcile net income to cash provided by operations:    
Depreciation 30,144 27,637
Regulatory amortization of gas reserves 833 1,481
Deferred income taxes 6,495 8,744
Qualified defined benefit pension plan (benefit) expense (791) 1,441
Deferred environmental expenditures, net (4,113) (4,345)
Environmental remediation expense 5,375 4,703
Asset optimization revenue sharing bill credits (10,471) (41,102)
Other 7,851 5,786
Changes in assets and liabilities:    
Receivables, net 36,671 36,920
Inventories 46,509 23,995
Income and other taxes 20,310 12,383
Accounts payable (48,531) (15,525)
Deferred gas costs (11,299) 11,728
Asset optimization revenue sharing 7,769 (646)
Decoupling mechanism (1,303) 4,434
Change in Cloud-based software Assets (3,673) (416)
Other, net 17,515 3,596
Cash provided by operating activities 174,831 138,230
Investing activities:    
Capital expenditures (63,598) (64,317)
Other (1,284) (1,236)
Cash used in investing activities (64,882) (65,553)
Financing activities:    
Capital contributions from parent 8 527
Long-term debt issued 200,000 0
Changes in other short-term debt, net (170,200) (57,000)
Cash dividend payments on common stock (16,552) (14,338)
Other (2,972) (1,215)
Cash used in financing activities 10,284 (72,026)
Cash, cash equivalents and restricted cash 144,904 21,483
Increase (decrease) in cash, cash equivalents and restricted cash 120,233 651
Supplemental disclosure of cash flow information:    
Interest paid, net of capitalization 10,522 7,288
Income taxes paid, net of refunds $ 6,565 $ 3,300