| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities | |||||||||||
Net income | |||||||||||
219,772 | 203,664 | 167,187 | 250,146 | 161,767 | 170,019 | 163,599 | 140,548 | 140,120 | 115,425 | 84,901 | 92,168 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Depreciation of property, plant and equipment | |||||||||||
229,858 | 214,036 | 200,658 | 194,273 | 183,966 | 172,762 | 160,061 | 150,389 | 148,152 | 154,523 | 151,282 | 150,977 |
Other amortization | |||||||||||
48,255 | 41,593 | 21,340 | 10,473 | 11,619 | 10,282 | 7,324 | 7,958 | 19,318 | 4,605 | 5,389 | 5,085 |
Provision for credit losses | |||||||||||
23,480 | 14,745 | 10,901 | 16,763 | 6,275 | 6,126 | 1,507 | 12,883 | 15,009 | 20,894 | 32,000 | 10,334 |
Impairment of utility assets | |||||||||||
- | - | - | - | 6,021 | 1,866 | 0 | 40,000 | 9,215 | - | - | - |
Gain on pension curtailment | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 472 |
Loans originated, held for sale | |||||||||||
285,042 | 109,537 | 115,104 | 236,769 | 268,279 | 155,755 | 249,022 | 519,622 | 267,656 | 360,527 | 443,843 | 204,457 |
Proceeds from sale of loans, held for sale | |||||||||||
277,119 | 112,182 | 127,951 | 236,062 | 275,296 | 155,030 | 273,775 | 513,000 | 273,932 | 392,406 | 471,194 | 185,291 |
Gain on sale of real estate, held for sale | |||||||||||
10,762 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Gain on sale of credit card portfolio | |||||||||||
- | - | - | - | - | - | 2,251 | 0 | 0 | - | - | - |
Net losses on sale of investment and mortgage-related securities | |||||||||||
- | - | - | - | - | - | - | - | - | - | -32,034 | -17,376 |
Other-than-temporary impairment on available-for-sale mortgage-related securities | |||||||||||
- | - | - | - | - | - | - | - | - | - | 15,444 | 7,764 |
Deferred income taxes | |||||||||||
-15,085 | -9,368 | 37,835 | 47,118 | 41,432 | 104,225 | 80,145 | 90,848 | 79,444 | 97,791 | 12,787 | 5,134 |
Share-based compensation expense | |||||||||||
9,986 | 7,792 | 5,404 | 4,789 | 6,542 | 9,287 | 7,780 | 6,698 | - | - | - | - |
Excess tax benefits from share-based payment arrangements | |||||||||||
- | - | - | - | - | 277 | 430 | 61 | 0 | -45 | -310 | 405 |
Allowance for equity funds used during construction | |||||||||||
11,987 | 10,877 | 12,483 | 8,325 | 6,928 | 6,771 | 5,561 | 7,007 | 5,964 | 6,016 | 12,222 | 9,390 |
Change in cash overdraft | |||||||||||
- | - | - | - | - | - | 1,038 | 0 | -2,688 | -141 | -9,545 | 1,265 |
Other | |||||||||||
10,822 | -4,219 | -3,324 | -12,422 | 1,672 | -280 | 0 | - | - | - | - | - |
Changes in assets and liabilities | |||||||||||
Decrease (increase) in accounts receivable and unbilled revenues, net | |||||||||||
-26,083 | 64,321 | 12,875 | 898 | -62,304 | -33,089 | -16,038 | 18,501 | 77,326 | 25,880 | -59,550 | 6,219 |
Decrease (increase) in fuel oil stock | |||||||||||
11,493 | -7,054 | 20,794 | -4,786 | -34,830 | -28,041 | -27,332 | -10,129 | 18,843 | 74,044 | 946 | -14,157 |
Decrease (increase) in regulatory assets | |||||||||||
-71,262 | -9,252 | 17,256 | 18,273 | 24,182 | 17,000 | 65,461 | 72,401 | 40,132 | 2,936 | - | - |
Increase in accounts, interest and dividends payable | |||||||||||
-3,054 | 21,528 | 34,985 | -9,643 | -52,663 | -67,189 | 12,406 | 5,497 | -34,480 | 22,410 | -12,472 | - |
Decrease in accounts payable | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | -18,715 |
Increase (Decrease) in Obligation, Pension and Other Postretirement Benefits | |||||||||||
-4,482 | 20,871 | 882 | 1,587 | 852 | 22,251 | -33,014 | -228 | -6,922 | -31,792 | -25,354 | - |
Change in prepaid and accrued income taxes, tax credits and utility revenue taxes | |||||||||||
-27,538 | 29,429 | 20,685 | 39,109 | -42,596 | -39,091 | -19,406 | 21,079 | 73,153 | -5,252 | -61,977 | 16,466 |
Change in other assets and liabilities | |||||||||||
34,724 | -15,488 | 25,551 | 23,118 | 41,070 | 101,195 | 14,292 | 102,275 | 53,966 | -39,206 | 39,491 | 5,280 |
Net cash provided by operating activities | |||||||||||
512,470 | 499,312 | 420,441 | 495,658 | 356,858 | 325,420 | 361,568 | 278,934 | 250,366 | 340,717 | 268,586 | 259,814 |
Cash flows from investing activities | |||||||||||
Available-for-sale investment securities purchased | |||||||||||
108,088 | 224,335 | 528,379 | 533,956 | 429,262 | 183,778 | 112,654 | 243,633 | 361,876 | 714,552 | 297,864 | 489,264 |
Principal repayments on available-for-sale investment securities | |||||||||||
272,949 | 218,930 | 220,231 | 219,845 | 153,271 | 91,013 | 158,558 | 191,253 | 389,906 | 465,437 | 357,233 | 610,521 |
Proceeds from sale of available-for-sale investment securities | |||||||||||
19,800 | 0 | 0 | 16,423 | 0 | 79,564 | 71,367 | 3,548 | 32,799 | - | 185,134 | 1,311,596 |
Purchases of held-to-maturity investment securities | |||||||||||
13,057 | 103,184 | 44,515 | 0 | 0 | - | - | - | - | - | - | - |
Principal repayments of held-to-maturity investment securities | |||||||||||
15,505 | 5,720 | 0 | 0 | - | - | - | - | - | - | - | - |
Purchase of stock from Federal Home Loan Bank | |||||||||||
95,636 | 28,292 | 2,868 | 7,773 | 1,600 | 0 | 0 | - | - | - | - | - |
Redemption of stock from Federal Home Loan Bank | |||||||||||
97,160 | 28,040 | 4,380 | 7,233 | 60,223 | 23,244 | 3,476 | 1,742 | - | - | - | - |
Net increase in loans held for investment | |||||||||||
300,210 | 189,352 | -15,887 | 194,042 | 181,343 | 283,810 | 398,426 | 112,730 | 181,080 | -118,892 | -484,960 | -92,241 |
Proceeds from sale of commercial loans | |||||||||||
0 | 7,149 | 36,760 | 52,299 | 0 | 0 | - | - | - | - | - | 17 |
Proceeds from sale of real estate acquired in settlement of loans | |||||||||||
- | - | - | 829 | 1,329 | 3,213 | 9,212 | 11,336 | 8,020 | 5,967 | 1,555 | - |
Proceeds from sale of real estate held for sale | |||||||||||
21,060 | 0 | 0 | 1,764 | 7,283 | 0 | 0 | - | - | - | - | - |
Capital expenditures | |||||||||||
457,520 | 506,770 | 430,454 | 330,043 | 363,804 | 364,826 | 389,438 | 370,715 | 235,116 | 182,125 | 288,879 | 282,051 |
Contributions in aid of construction | |||||||||||
- | - | - | 30,100 | 40,239 | 41,806 | 32,160 | 45,982 | 23,534 | 22,555 | 14,170 | 17,319 |
Contributions to low income housing investments | |||||||||||
6,974 | 14,499 | 17,505 | 0 | 0 | - | - | - | - | - | - | - |
Acquisition of business | |||||||||||
0 | 0 | 76,323 | 0 | 0 | - | - | - | - | - | - | - |
Proceeds from sale of credit card portfolio | |||||||||||
- | - | - | - | - | - | 26,386 | 0 | 0 | - | - | - |
Other | |||||||||||
-13,292 | -14,534 | -7,487 | -856 | -7,940 | -1,125 | -1,177 | -1,778 | 2,974 | -5,092 | -1,199 | -1,116 |
Net cash used in investing activities | |||||||||||
-541,709 | -792,059 | -815,299 | -736,465 | -705,724 | -592,449 | -598,182 | -471,439 | -326,787 | -278,734 | 457,508 | 1,077,013 |
Cash flows from financing activities | |||||||||||
Net increase in deposit liabilities | |||||||||||
113,050 | 165,880 | 341,668 | 523,675 | 401,839 | 250,938 | 142,561 | 159,884 | 94,660 | -83,388 | -121,415 | -167,085 |
Net increase (decrease) in short-term borrowings with original maturities of three months or less | |||||||||||
86,718 | -18,999 | 67,992 | -103,063 | -15,909 | 13,490 | 21,789 | 14,872 | 43,898 | -17,066 | 41,989 | -91,780 |
Proceeds from issuance of short-term debt | |||||||||||
75,000 | 25,000 | 125,000 | 0 | 0 | - | - | - | - | - | - | - |
Repayment of short-term debt | |||||||||||
50,000 | 50,000 | 75,000 | 0 | 0 | - | - | - | - | - | - | - |
Net increase (decrease) in retail repurchase agreements | |||||||||||
- | - | - | -43,601 | 37,925 | -9,465 | -1,418 | -37,291 | 10,910 | -60,308 | -3,829 | -37,142 |
Net increase in other bank borrowings with original maturities of three months or less | |||||||||||
5,070 | 71,556 | 61,776 | 180,835 | 50,000 | 130,601 | 130,000 | 5,000 | 0 | - | 310,000 | 2,592,635 |
Repayment of other bank borrowings | |||||||||||
0 | 50,000 | 63,534 | 272,902 | 50,000 | 75,000 | 80,000 | 5,000 | 15,000 | - | 689,517 | 3,682,119 |
Proceeds from issuance of long-term debt | |||||||||||
289,349 | 250,000 | 532,325 | 115,000 | 80,000 | 125,000 | 286,000 | 457,000 | 125,000 | - | 153,186 | 19,275 |
Repayment of long-term debt | |||||||||||
287,285 | 53,887 | 465,000 | 75,000 | 0 | 111,400 | 216,000 | 375,500 | 150,000 | - | - | 50,000 |
Withheld shares for employee taxes on vested share-based compensation | |||||||||||
-997 | -996 | -3,828 | -2,416 | -3,260 | 277 | 430 | 61 | 0 | -45 | -310 | 405 |
Proceeds from (Repurchase of) Equity | |||||||||||
- | - | - | 13,220 | 104,435 | 26,898 | 55,086 | 23,613 | 15,979 | 22,706 | 15,329 | 136,443 |
Common stock dividends | |||||||||||
139,463 | 134,987 | 134,873 | 117,274 | 131,765 | 126,458 | 98,383 | 96,202 | 106,812 | 93,034 | 96,843 | 83,604 |
Preferred stock dividends of subsidiaries | |||||||||||
1,890 | 1,890 | 1,890 | 1,890 | 1,890 | 1,890 | 1,890 | 1,890 | 1,890 | 1,890 | 1,890 | 1,890 |
Other | |||||||||||
-1,836 | -1,603 | -6,349 | 2,197 | 2,427 | -456 | -1,187 | -2,645 | -710 | -2,229 | -2,762 | 350 |
Net cash provided by financing activities | |||||||||||
87,716 | 200,074 | 378,287 | 218,781 | 473,802 | 222,535 | 236,988 | 141,902 | 16,035 | -235,254 | -405,607 | -1,363,247 |
Net increase in cash, cash equivalents and restricted cash | |||||||||||
58,477 | -92,673 | -16,571 | -22,026 | 124,936 | -44,494 | 374 | -50,603 | -60,386 | -173,271 | 320,487 | -26,420 |