v3.26.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Operating activities:    
Net income $ 88,646 $ 86,358
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 101,298 89,638
Deferred income taxes 23,512 25,063
Stock-based compensation 4,677 4,662
Allowance for equity funds used during construction (5,291) (1,500)
Changes in operating assets and liabilities, net of acquired assets and liabilities    
Accounts receivable and accrued unbilled utility revenue (28,853) (30,717)
Accounts payable and other current liabilities 1,244 (5,687)
Accrued groundwater extraction charges, purchased water and power 15,339 17,339
Tax receivable and payable, and other accrued taxes (7,753) (5,612)
Postretirement benefits (4,460) (2,737)
Regulatory assets and liabilities excluding cost of removal, income tax temporary differences and postretirement benefits 8,176 7,098
Other noncurrent assets and noncurrent liabilities 9,007 945
Proceeds from litigation settlement, net 3,570 6,640
Other changes, net (24,418) (10,207)
Net cash provided by operating activities 184,694 181,283
Additions to utility plant:    
Company-funded (304,091) (351,069)
Contributions in aid of construction (40,722) (18,546)
Cost to retire utility plant, net of salvage (2,287) (2,728)
Proceeds from sale of real estate investments and release of escrow deposit 1,087 2,801
Net cash used in investing activities (346,013) (369,542)
Financing activities:    
Borrowings from lines of credit 264,876 364,287
Repayments of lines of credit (151,435) (357,042)
Long-term borrowings 17,262 65,000
Repayments of long-term borrowings (17,938) (3,307)
Issuance of common stock, net of issuance costs 618,613 108,138
Dividends paid (52,751) (43,607)
Proceeds from litigation settlement, net 7,328 14,421
Receipts of advances and contributions in aid of construction 29,571 43,666
Refunds of advances for construction (2,780) (3,639)
Other changes, net 844 542
Net cash provided by financing activities 713,590 188,459
Net change in cash and cash equivalents 552,271 200
Cash and cash equivalents, beginning of period 20,686 11,114
Cash and cash equivalents, end of period 572,957 11,314
Cash paid (refunded) during the period for:    
Interest 51,215 58,308
Interest, net of amounts capitalized 44,812 53,277
Income taxes 168 (2,286)
Supplemental disclosure of non-cash activities:    
Accrued payables for additions to utility plant 74,156 49,550
Utility property installed by developers $ 1,451 $ 2,607