v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities:    
Net income $ 55,252 $ 110,067
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 73,066 66,929
Change in value of life insurance contracts (1,257) (1,811)
Allowance for equity funds used during construction (3,695) (3,561)
Changes in operating assets and liabilities:    
Receivables and accrued and unbilled revenue (40,542) (16,859)
Water Arrearages Payment Program cash received 0 83,039
Accounts payable (9,027) (10,545)
Other current assets (5,532) (6,680)
Other current liabilities (3,656) 7,314
Other changes in noncurrent assets and liabilities 22,758 (106,954)
Net cash provided by operating activities 87,367 120,939
Investing activities:    
Utility plant expenditures (229,520) (214,414)
Life insurance proceeds 0 1,426
Purchase of life insurance contracts 0 (1,426)
Other 207 48
Net cash used in investing activities (229,313) (214,366)
Financing activities:    
Short-term borrowings 410,000 295,000
Repayment of short-term borrowings (255,000) (230,000)
Repayment of long-term debt (430) (416)
Advances and contributions in aid of construction 20,542 10,936
Refunds of advances for construction (4,543) (4,865)
Per- and polyfluoroalkyl substances (PFAS) settlement proceeds 10,605 0
Repurchase of common stock (1,214) (1,235)
Issuance of common stock 1,343 53,381
Dividends paid (38,098) (32,336)
Distribution to noncontrolling interest (790) (489)
Other 0 1,160
Net cash provided by financing activities 142,415 91,136
Change in cash, cash equivalents, and restricted cash 469 (2,291)
Cash, cash equivalents, and restricted cash at beginning of period 95,687 84,966
Cash, cash equivalents, and restricted cash at end of period 96,156 82,675
Supplemental information:    
Cash paid for interest (net of amounts capitalized) 31,423 28,178
Supplemental disclosure of non-cash activities:    
Accrued payables for investments in utility plant 60,428 51,824
Utility plant contribution by developers $ 14,162 $ 14,159

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