STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands |
9 Months Ended |
Sep. 30, 2017 |
Sep. 30, 2016 |
| Operating activities |
|
|
| Net income |
$ 128,198
|
$ 123,080
|
| Adjustments to reconcile net income to cash provided by operating activities: |
|
|
| Depreciation and amortization |
144,664
|
123,820
|
| Demand side management program amortization |
1,255
|
1,255
|
| Deferred income taxes |
101,388
|
99,882
|
| Amortization of investment tax credits |
(99)
|
(160)
|
| Allowance for equity funds used during construction |
(6,457)
|
(7,348)
|
| Net derivative losses |
47
|
203
|
| Other Operating Activities, Cash Flow Statement |
9
|
122
|
| Changes in operating assets and liabilities: |
|
|
| Accounts receivable |
(25,134)
|
(22,160)
|
| Accrued unbilled revenues |
(13,682)
|
(18,307)
|
| Inventories |
(2,845)
|
(1,491)
|
| Prepayments and other |
19,361
|
24,172
|
| Accounts payable |
7,817
|
19,690
|
| Net regulatory assets and liabilities |
24,856
|
(18,480)
|
| Other current liabilities |
19,748
|
18,989
|
| Pension and other employee benefit obligations |
(21,638)
|
(15,606)
|
| Change in other noncurrent assets |
(1,697)
|
(537)
|
| Change in other noncurrent liabilities |
(18,690)
|
3,916
|
| Net cash provided by operating activities |
357,101
|
331,040
|
| Investing activities |
|
|
| Utility capital/construction expenditures |
(400,957)
|
(371,994)
|
| Proceeds from Insurance Settlement, Investing Activities |
0
|
987
|
| Allowance for equity funds used during construction |
6,457
|
7,348
|
| Investments in utility money pool arrangement |
0
|
75,000
|
| Repayments from utility money pool arrangement |
0
|
75,000
|
| Payments for (Proceeds from) Other Investing Activities |
493
|
1,174
|
| Net cash used in investing activities |
(394,993)
|
(364,833)
|
| Financing activities |
|
|
| Proceeds from short-term borrowings, net |
(50,000)
|
(15,000)
|
| Proceeds from issuance of long-term debt, net |
442,651
|
296,152
|
| Borrowings under utility money pool arrangement |
323,000
|
505,000
|
| Repayments under utility money pool arrangement |
(323,000)
|
(505,000)
|
| Capital contributions from parent |
45,000
|
16,225
|
| Repayment of long-term debt, including reacquisition premiums |
(271,613)
|
0
|
| Dividends paid to parent |
(82,599)
|
(57,570)
|
| Net cash provided by financing activities |
83,439
|
239,807
|
| Net change in cash and cash equivalents |
45,547
|
206,014
|
| Cash and cash equivalents at beginning of period |
844
|
834
|
| Cash and cash equivalents at end of period |
46,391
|
206,848
|
| Supplemental disclosure of cash flow information: |
|
|
| Cash paid for interest (net of amounts capitalized) |
(58,581)
|
(47,787)
|
| Cash received for income taxes, net |
37,899
|
49,402
|
| Supplemental disclosure of non-cash investing transactions: |
|
|
| Property, plant and equipment additions in accounts payable |
$ 40,861
|
$ 25,445
|