v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities:    
Net income $ 45,602 $ 41,226
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 67,360 59,606
Deferred income taxes 8,818 8,642
Stock-based compensation 2,927 2,674
Allowance for equity funds used during construction (3,471) (823)
Accounts receivable and accrued unbilled utility revenue (12,604) (15,275)
Accounts payable and other current liabilities (13,905) (9,400)
Accrued groundwater extraction charges, purchased water and power 10,885 13,192
Tax receivable and payable, and other accrued taxes (2,030) 118
Postretirement benefits (3,587) (1,420)
Regulatory assets and liabilities excluding cost of removal, income tax temporary differences and postretirement benefits 4,737 4,931
Other noncurrent assets and noncurrent liabilities 6,721 0
Proceeds from litigation settlement, net 3,570 0
Other changes, net (10,578) 546
Net cash provided by operating activities 104,445 104,017
Additions to utility plant:    
Company-funded (194,286) (204,440)
Contributions in aid of construction (20,158) (11,963)
Cost to retire utility plant, net of salvage (1,760) (1,471)
Net cash used in investing activities (216,204) (217,874)
Financing activities:    
Borrowings from lines of credit 66,923 114,959
Repayments of lines of credit (152,393) (73,243)
Long-term borrowings 16,938 0
Repayments of long-term borrowings (16,823) (1,738)
Issuance of common stock, net of issuance costs 288,599 83,713
Dividends paid (34,323) (28,746)
Proceeds from litigation settlement, net 7,328 0
Receipts of advances and contributions in aid of construction 20,420 30,293
Refunds of advances for construction (1,773) (2,760)
Other changes, net 279 114
Net cash provided by financing activities 195,175 122,592
Net change in cash and cash equivalents 83,416 8,735
Cash and cash equivalents, beginning of period 20,686 11,114
Cash and cash equivalents, end of period 104,102 19,849
Cash paid (refunded) during the period for:    
Interest 35,780 40,867
Interest, net of amounts capitalized 31,575 37,895
Income taxes 165 (2,370)
Supplemental disclosure of non-cash activities:    
Accrued payables for additions to utility plant 59,597 36,941
Utility property installed by developers $ 1,174 $ 1,459