XML 20 R9.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements Of Cash Flow - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net income $ 126,410 $ 71,827
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation and amortization 116,137 76,040
Deferred income taxes (11,959) (11,884)
Provision for doubtful accounts 11,599 2,127
Stock-based compensation 3,708 4,058
Gain on sale of other assets (125) (268)
Gain on sale of utility system (403)
Loss on interest rate swap agreements 23,742
Loss on debt extinguishment 18,935
Settlement of interest rate swap agreements (83,520)
Net change in receivables, inventory and prepayments 45,328 (5,672)
Net change in payables, accrued interest, accrued taxes and other accrued liabilities (39,019) (658)
Pension and other postretirement benefits contributions (3,784) (6,595)
Other (3,093) (186)
Net cash flows from operating activities 245,202 87,543
Cash flows from investing activities:    
Property, plant and equipment additions, including the debt component of allowance for funds used during construction of $1,708 and $2,117 (293,090) (269,171)
Acquisitions of utility systems, net (3,467,060) (519)
Net proceeds from the sale of other assets 232 2,182
Other (17) 983
Net cash flows used in investing activities (3,759,935) (266,525)
Cash flows from financing activities:    
Customers' advances and contributions in aid of construction 3,001 5,914
Repayments of customers' advances (1,827) (1,488)
Net repayments of short-term debt (192,605) (9,373)
Proceeds from long-term debt 2,838,664 1,136,000
Repayments of long-term debt (1,627,300) (825,642)
Extinguishment of long-term debt (25,237)
Change in cash overdraft position 8,590 13,343
Issuance of common stock under dividend reinvestment plan 8,061 4,420
Issuance of common stock from private placement 729,301
Proceeds from stock issued to finance acquisition 1,264,125
Proceeds from tangible equity unit issuance 674,170
Proceeds from exercised stock options 1,067 1,546
Repurchase of common stock (4,343) (1,859)
Dividends paid on common stock (109,619) (86,263)
Other 48 (225)
Net cash flows from financing activities 1,653,038 2,149,431
Net change in cash and cash equivalents (1,861,695) 1,970,449
Cash and cash equivalents at beginning of period 1,868,922 3,627
Cash and cash equivalents at end of period 7,227 1,974,076
Non-cash investing activities:    
Property, plant and equipment additions purchased at the period end, but not yet paid for 78,384 44,809
Non-cash customer advances and contributions in aid of construction $ 18,883 $ 21,527