v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash Flows from Operating Activities    
Net Income $ 26,897 $ 44,431
Adjustments to Reconcile Net Income to Net Cash Flows from Operating Activities:    
Depreciation Expense 60,467 57,515
Amortization Expense 8,445 7,781
Amortization of Debt Issuance Costs 790 788
Use of Renewable Energy Credits for Compliance 12,502 12,462
Deferred Income Taxes 2,193 7,019
Pension and Other Postretirement Benefits Expense 2,955 4,511
Pension and Other Postretirement Benefits Funding (814) (1,431)
Allowance for Equity Funds Used During Construction (10,403) (9,687)
Changes in Current Assets and Current Liabilities:    
Accounts Receivable 29,196 25,280
Materials, Supplies, and Fuel Inventory (237) (11,031)
Regulatory Assets (627) (4,615)
Other Current Assets 1,383 2,457
Accounts Payable and Accrued Charges 38,115 10,680
Regulatory Liabilities (15,135) (59)
Other, Net (24,899) (17,672)
Net Cash Flows—Operating Activities 130,828 128,429
Cash Flows from Investing Activities    
Capital Expenditures (156,156) (172,872)
Purchase Intangibles, Renewable Energy Credits (11,467) (12,753)
Contributions in Aid of Construction 301 1,619
Net Cash Flows—Investing Activities (167,322) (184,006)
Cash Flows from Financing Activities    
Proceeds from Borrowings, Revolving Credit Facility 150,000 30,000
Repayments of Borrowings, Revolving Credit Facility (75,000) (100,000)
Proceeds from Issuance, Long-Term Debt—Net of Discount 0 299,322
Dividends Paid to Parent (150,000) 0
Payment of Debt Issuance Costs 0 (3,230)
Contribution from Parent 95,000 0
Other, Net (877) 652
Net Cash Flows—Financing Activities 19,123 226,744
Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash (17,371) 171,167
Cash, Cash Equivalents, and Restricted Cash, Beginning of Period 56,392 49,461
Cash, Cash Equivalents, and Restricted Cash, End of Period $ 39,021 $ 220,628