STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands |
9 Months Ended |
Sep. 30, 2016 |
Sep. 30, 2015 |
| Operating activities |
|
|
| Net income |
$ 123,080
|
$ 104,638
|
| Adjustments to reconcile net income to cash provided by operating activities: |
|
|
| Depreciation and amortization |
123,820
|
109,629
|
| Demand side management program amortization |
1,255
|
1,255
|
| Deferred income taxes |
99,882
|
35,541
|
| Amortization of investment tax credits |
(160)
|
(255)
|
| Allowance for equity funds used during construction |
(7,348)
|
(5,578)
|
| Net derivative losses |
203
|
201
|
| Other |
122
|
0
|
| Changes in operating assets and liabilities: |
|
|
| Accounts receivable |
(22,160)
|
(24,416)
|
| Accrued unbilled revenues |
(18,307)
|
18,286
|
| Inventories |
(1,491)
|
3,351
|
| Prepayments and other |
24,172
|
(14,589)
|
| Accounts payable |
19,690
|
(6,891)
|
| Net regulatory assets and liabilities |
(18,480)
|
43,980
|
| Other current liabilities |
18,989
|
43,949
|
| Pension and other employee benefit obligations |
(15,606)
|
(9,961)
|
| Change in other noncurrent assets |
(537)
|
1,054
|
| Change in other noncurrent liabilities |
3,916
|
1,227
|
| Net cash provided by operating activities |
331,040
|
301,421
|
| Investing activities |
|
|
| Utility capital/construction expenditures |
(371,994)
|
(428,991)
|
| Proceeds from insurance recoveries |
987
|
0
|
| Allowance for equity funds used during construction |
7,348
|
5,578
|
| Investments in utility money pool arrangement |
(75,000)
|
(9,000)
|
| Repayments from utility money pool arrangement |
75,000
|
9,000
|
| Other |
(1,174)
|
0
|
| Net cash used in investing activities |
(364,833)
|
(423,413)
|
| Financing activities |
|
|
| Repayment of short-term borrowings, net |
(15,000)
|
(37,000)
|
| Proceeds from long-term debt |
296,152
|
198,784
|
| Borrowings under utility money pool arrangement |
505,000
|
407,700
|
| Repayments under utility money pool arrangement |
(505,000)
|
(405,700)
|
| Capital contributions from parent |
16,225
|
34,535
|
| Dividends paid to parent |
(57,570)
|
(76,192)
|
| Net cash provided by financing activities |
239,807
|
122,127
|
| Net change in cash and cash equivalents |
206,014
|
135
|
| Cash and cash equivalents at beginning of period |
834
|
596
|
| Cash and cash equivalents at end of period |
206,848
|
731
|
| Supplemental disclosure of cash flow information: |
|
|
| Cash paid for interest (net of amounts capitalized) |
(47,787)
|
(58,539)
|
| Cash received (paid) for income taxes, net |
49,402
|
(41,114)
|
| Supplemental disclosure of non-cash investing transactions: |
|
|
| Property, plant and equipment additions in accounts payable |
$ 25,445
|
$ 29,815
|