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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities:      
Net income (loss) $ 190,085 $ 51,376 $ 95,263
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 134,139 123,124 117,364
Amortization of debt premium and expenses 246 262 369
Changes in normalized deferred income taxes 40,445 35,627 26,880
Change in value of life insurance contracts (3,578) (4,919) 7,161
Allowance for equity funds used during construction (6,902) (5,551) (4,127)
Stock-based compensation 3,746 2,993 5,161
Write-off (recovery) of capital costs 1,313 (536) 702
Changes in operating assets and liabilities:      
Receivables (42,276) 42,711 (40,687)
Water Arrearages Payment Program cash received 83,039 0 20,836
Water Arrearages Payment Program cash returned (25,173) 0 (3,609)
Accrued and unbilled revenue (2,719) (3,859) (381)
Taxes, prepaid expenses, and other assets (5,393) 654 (5,104)
Accounts payable 1,743 9,896 (7,626)
Other current liabilities 2,767 (346) 7,941
Other changes in noncurrent assets and liabilities (80,615) (33,615) 23,629
Net cash provided by operating activities 290,867 217,817 243,772
Investing activities:      
Utility plant expenditures (470,800) (383,747) (327,757)
Business acquisitions, net of cash acquired (1,609) (175) 0
Asset acquisitions 0 (2,816) (7,766)
Purchase of life insurance (3,935) (2,681) (6,688)
Life insurance proceeds 1,426 0 6,688
Other 48 0 0
Net cash used in investing activities (474,870) (389,419) (335,523)
Financing activities:      
Short-term borrowings 505,000 227,792 150,000
Repayment of short-term borrowings (480,000) (120,000) (115,000)
Issuance of long-term debt, net of debt issuance costs of $184 124,816 0 0
Advances and contributions in aid of construction 30,389 21,156 25,822
Refunds of advances for construction (9,399) (9,355) (9,468)
Retirement of long-term debt (889) (1,811) (5,423)
Repurchase of common stock (1,435) (1,844) (2,013)
Issuance of common stock 89,033 115,106 106,739
Dividends paid (65,462) (59,036) (54,186)
Distribution to noncontrolling interest (489) (465) (348)
Other 3,160 0 0
Net cash provided by financing activities 194,724 171,543 96,123
Change in cash, cash equivalents, and restricted cash 10,721 (59) 4,372
Cash, cash equivalents, and restricted cash at beginning of year 84,966 85,025 80,653
Cash, cash equivalents, and restricted cash at end of year 95,687 84,966 85,025
Cash paid during the year for:      
Interest (net of amounts capitalized) 55,656 49,145 43,768
Income taxes (net of refunds) 27,000 (3,532) 0
Supplemental disclosure of investing and financing non-cash activities:      
Accrued payables for investments in utility plant 56,836 54,382 51,511
Utility plant contributed by developers $ 30,445 $ 24,203 $ 20,379

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