|
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
|
3 Months Ended |
|
Mar. 31, 2015
|
Mar. 31, 2014
|
| Operating activities |
|
|
| Net income (loss) |
$ 1,575 |
$ (5,476) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: |
|
|
| Depreciation and amortization |
15,736 |
16,564 |
| Change in value of life insurance contracts |
(161) |
(158) |
| Changes in operating assets and liabilities: |
|
|
| Receivables |
600 |
6,006 |
| Accounts payable |
(419) |
178 |
| Other current assets |
(4,604) |
(5,065) |
| Other current liabilities |
7,627 |
7,458 |
| Other changes in noncurrent assets and liabilities |
6,535 |
(9,034) |
| Net cash provided by operating activities |
26,889 |
10,473 |
| Investing activities: |
|
|
| Utility plant expenditures |
(35,047) |
(24,620) |
| Purchase of life insurance |
|
(1,674) |
| Changes in restricted cash and other changes, net |
(26) |
418 |
| Net cash (used in) investing activities |
(35,073) |
(25,876) |
| Financing activities: |
|
|
| Short-term borrowings |
30,000 |
22,200 |
| Repayment of short-term borrowings |
|
(5,000) |
| Issuance of long-term debt |
50 |
|
| Repayment of long-term debt |
(338) |
(460) |
| Advances and contributions in aid of construction |
1,777 |
2,194 |
| Refunds of advances for construction |
(1,574) |
(1,535) |
| Dividends paid |
(8,007) |
(7,758) |
| Net cash provided by financing activities |
21,908 |
9,641 |
| Change in cash and cash equivalents |
13,724 |
(5,762) |
| Cash and cash equivalents at beginning of period |
19,587 |
27,506 |
| Cash and cash equivalents at end of period |
33,311 |
21,744 |
| Supplemental information |
|
|
| Cash paid for interest (net of amounts capitalized) |
749 |
837 |
| Supplemental disclosure of non-cash activities: |
|
|
| Accrued payables for investments in utility plant |
14,374 |
10,690 |
| Utility plant contribution by developers |
$ 1,823 |
$ 1,020 |