XML 19 R5.htm IDEA: XBRL DOCUMENT v3.23.2
Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities:    
Net income $ 72,915 $ 57,954
Adjustments to reconcile net income to cash provided by operations:    
Depreciation 62,758 56,539
Regulatory amortization of gas reserves 1,678 2,984
Deferred income taxes 8,610 10,659
Qualified defined benefit pension plan (benefit) expense (1,129) 2,882
Deferred environmental expenditures, net (9,732) (9,608)
Environmental remediation expense 7,515 6,970
Asset optimization revenue sharing bill credits (10,471) (41,102)
Other 14,068 9,961
Changes in assets and liabilities:    
Receivables, net 163,965 96,453
Inventories 20,084 (8,721)
Income and other taxes 14,834 17,241
Accounts payable (48,935) (13,728)
Deferred gas costs (16,370) 2,607
Asset optimization revenue sharing 12,056 3,929
Decoupling mechanism (9,554) 9,669
Change in Cloud-based software Assets (7,229) (414)
Other, net 22,791 (7,711)
Cash provided by operating activities 297,854 196,564
Investing activities:    
Capital expenditures (144,863) (167,696)
Acquisitions, net of cash acquired (3,249) 0
Payments to Acquire Equity Method Investments (1,000) 0
Other (2,428) (1,991)
Cash used in investing activities (151,540) (169,687)
Financing activities:    
Proceeds from common stock issued, net 22,072 174,053
Long-term debt issued 200,000 692
Changes in other short-term debt, net (217,200) (166,800)
Cash dividend payments on common stock (33,293) (30,311)
Other (3,774) (1,596)
Cash used in financing activities (32,195) (23,962)
Cash, cash equivalents and restricted cash 155,083 30,035
Increase (decrease) in cash, cash equivalents and restricted cash 114,119 2,915
Supplemental disclosure of cash flow information:    
Interest paid, net of capitalization 36,376 22,867
Income taxes paid, net of refunds 12,163 1,086
Northwest Natural Gas Company [Member]    
Operating activities:    
Net income 77,324 60,149
Adjustments to reconcile net income to cash provided by operations:    
Depreciation 60,024 54,965
Regulatory amortization of gas reserves 1,678 2,984
Deferred income taxes 4,172 10,308
Qualified defined benefit pension plan (benefit) expense (1,129) 2,882
Deferred environmental expenditures, net (9,732) (9,608)
Environmental remediation expense 7,515 6,970
Asset optimization revenue sharing bill credits (10,471) (41,102)
Other 13,022 9,158
Changes in assets and liabilities:    
Receivables, net 167,936 97,175
Inventories 20,438 (7,974)
Income and other taxes 6,078 16,069
Accounts payable (52,366) (16,341)
Deferred gas costs (16,370) 2,607
Asset optimization revenue sharing 12,056 3,929
Decoupling mechanism (9,554) 9,669
Change in Cloud-based software Assets (7,229) (414)
Other, net 24,613 (7,990)
Cash provided by operating activities 288,005 193,436
Investing activities:    
Capital expenditures (129,298) (156,189)
Other (2,428) (1,991)
Cash used in investing activities (131,726) (158,180)
Financing activities:    
Capital contributions from parent 0 165,517
Long-term debt issued 200,000 0
Changes in other short-term debt, net (170,200) (166,800)
Cash dividend payments on common stock (58,315) (30,191)
Other (3,358) (1,521)
Cash used in financing activities (31,873) (32,995)
Cash, cash equivalents and restricted cash 149,077 23,093
Increase (decrease) in cash, cash equivalents and restricted cash 124,406 2,261
Supplemental disclosure of cash flow information:    
Interest paid, net of capitalization 28,078 21,270
Income taxes paid, net of refunds $ 26,745 $ 3,490