XML 29 R6.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
CASH FLOW FROM OPERATING ACTIVITIES:      
Net income $ 181,652 $ 193,942 $ 153,055
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 249,212 250,951 289,132
Deferred income taxes 51,041 63,389 68,732
Changes in current assets and liabilities:      
Accounts receivable, net of allowances (15,862) (40,947) 30,096
Accrued utility revenue 1,000 (2,000) (1,500)
Deferred purchased gas costs 82,574 (95,608) 45,858
Accounts payable 11,778 19,961 21,695
Accrued taxes (11,955) 2,112 26,340
Other current assets and liabilities (54,073) (8,203) (27,432)
Gains on sale (1,703) (4,196) (7,148)
Changes in undistributed stock compensation 6,111 10,888 5,456
AFUDC (3,627) (2,296) (2,289)
Changes in other assets and deferred charges (5,738) (22,269) 16,960
Changes in other liabilities and deferred credits 38,446 4,231 (18,447)
Net cash provided by operating activities 528,856 369,955 600,508
CASH FLOW FROM INVESTING ACTIVITIES:      
Construction expenditures and property additions (765,914) (623,649) (529,531)
Acquisition of businesses, net of cash acquired (251,373) (94,204) (17,000)
Changes in customer advances 13,463 323 7,900
Miscellaneous inflows 4,341 16,645 13,039
Net cash used in investing activities (999,483) (700,885) (525,592)
CASH FLOW FROM FINANCING ACTIVITIES:      
Issuance of common stock, net 354,402 41,155 472
Dividends paid (100,240) (92,130) (83,317)
Centuri distribution to redeemable noncontrolling interest 0 (204) (439)
Issuance of long-term debt, net 565,172 407,063 423,946
Retirement of long-term debt (237,758) (338,969) (255,273)
Change in credit facility and commercial paper 0 145,000 (145,000)
Change in short-term debt (62,500) 214,500 (18,000)
Principal payments on capital lease obligations (648) (980) (1,354)
Redemption of Centuri shares from noncontrolling parties 0 (23,000) 0
Withholding remittance – share-based compensation (3,110) (3,176) (2,119)
Other (2,744) (3,074) (1,569)
Net cash provided by (used in) financing activities 512,574 346,185 (82,653)
Effects of currency translation on cash and cash equivalents (208) 301 (194)
Change in cash and cash equivalents 41,739 15,556 (7,931)
Cash and cash equivalents at beginning of period 43,622 28,066 35,997
Cash and cash equivalents at end of period 85,361 43,622 28,066
Supplemental information:      
Interest paid, net of amounts capitalized 86,562 71,943 67,440
Income taxes paid (received) 1,221 5,673 (19,032)
Southwest Gas Corporation      
CASH FLOW FROM OPERATING ACTIVITIES:      
Net income 138,842 156,818 153,055
Income from discontinued operations 0 0 33,632
Net Income from continuing operations 138,842 156,818 119,423
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 191,816 201,922 233,463
Deferred income taxes 42,999 67,169 67,959
Changes in current assets and liabilities:      
Accounts receivable, net of allowances (20,309) (7,902) 40,731
Accrued utility revenue 1,000 (2,000) (1,500)
Deferred purchased gas costs 82,574 (95,608) 45,858
Accounts payable 23,408 4,545 16,183
Accrued taxes (18,732) 10,383 19,391
Other current assets and liabilities (91,444) (13,726) (33,496)
Changes in undistributed stock compensation 5,355 9,288 5,456
AFUDC (3,627) (2,296) (2,289)
Changes in other assets and deferred charges (7,049) (22,918) 16,611
Changes in other liabilities and deferred credits 37,669 3,541 (18,447)
Net cash provided by operating activities, continuing operations 382,502 309,216 509,343
CASH FLOW FROM INVESTING ACTIVITIES:      
Construction expenditures and property additions (682,869) (560,448) (457,119)
Changes in customer advances 13,463 323 7,900
Miscellaneous inflows 14 2,741 2,982
Dividends received 0 0 12,461
Net cash used in investing activities, continuing operations (669,392) (557,384) (433,776)
CASH FLOW FROM FINANCING ACTIVITIES:      
Issuance of common stock, net 0 0 472
Contributions from parent 113,549 41,359 0
Dividends paid (87,000) (81,497) (83,317)
Issuance of long-term debt, net 297,495 0 296,469
Retirement of long-term debt 0 (25,000) (124,855)
Change in credit facility and commercial paper 0 145,000 (145,000)
Change in short-term debt (39,000) 191,000 (18,000)
Withholding remittance – share-based compensation (3,110) (3,176) (2,119)
Other (1,028) (596) (1,569)
Net cash provided by (used in) financing activities, continuing operations 280,906 267,090 (77,919)
Net cash provided by discontinued operating activities 0 0 91,165
Net cash used in discontinued investing activities 0 0 (91,816)
Net cash used in discontinued financing activities 0 0 (4,734)
Effects of currency translation on cash and cash equivalents, including discontinued operations 0 0 (194)
Change in cash and cash equivalents (5,984) 18,922 (7,931)
Change in cash and cash equivalents included in discontinued operations utility infrastructure services assets 0 0 5,579
Change in cash and cash equivalents of continuing operations (5,984) 18,922 (2,352)
Cash and cash equivalents at beginning of period 37,946 19,024 21,376
Cash and cash equivalents at end of period 31,962 37,946 19,024
Supplemental information:      
Interest paid, net of amounts capitalized 73,805 64,790 61,501
Income taxes paid (received) $ (5,856) $ (7,854) $ (31,011)