v3.26.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Operating Activities:    
Net income $ 331,359 $ 280,396
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 210,989 190,260
Deferred income taxes and investment tax credits (7,707) (49,721)
Changes in regulatory assets and liabilities 33,208 92,160
Pension and postretirement benefit plan expense 33,742 33,911
Contributions to pension and postretirement benefit plans (26,815) (25,263)
Earnings of unconsolidated equity-method investments (4,268) (4,208)
Distributions from equity-method investments 900 4,250
Allowance for equity funds used during construction (56,705) (45,177)
Other non-cash adjustments to net income, net 9,137 6,534
Change in:    
Accounts receivable and unbilled receivables (108,949) (30,770)
Prepayments (5,697) (3,656)
Materials, supplies, and fuel stock (3,523) 7,759
Accounts and wages payable (34,167) (33,619)
Taxes accrued/receivable 36,761 52,568
Other assets and liabilities (29,777) (11,359)
Net cash provided by operating activities 378,488 464,065
Investing Activities:    
Additions to property, plant and equipment, net (1,177,826) (825,352)
Proceeds from Sale of Other Productive Assets 171,705 91,966
Proceeds from Sale of Intangible Assets 34,559 13,151
Other (9,015) (10,526)
Net cash used in investing activities (980,577) (730,761)
Financing Activities:    
Issuance of long-term debt 550,000 400,000
Discount on issuance of long-term debt (12,482) (3,072)
Retirement of long-term debt (116,300) (19,885)
Payments on finance lease liabilities (4,674) (2,368)
Dividends on common stock (149,007) (140,000)
Issuance of Common Stock 318,029 4,541
Tax withholdings on net settlements of share-based awards (6,118) (3,303)
Other (5,250) (4,873)
Net cash provided by financing activities 574,198 231,040
Net decrease in cash and cash equivalents (27,891) (35,656)
Cash and cash equivalents at beginning of the period 215,718 368,865
Cash and cash equivalents at end of the period 187,827 333,209
Supplemental Disclosure of Cash Flow Information:    
Cash paid for interest (net of amount capitalized) 134,779 115,138
Non-cash investing and financing activities:    
Additions to property, plant, and equipment in accounts payable 334,318 211,545
Right-of-use asset obtained in exchange for finance lease liability $ 0 $ 226,618