Southwest gas holdings, inc. (SWX)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16
CASH FLOW FROM OPERATING ACTIVITIES:
Net income

73,005

91,906

6,525

22,832

95,384

69,476

12,331

21,551

78,294

96,396

10,420

18,121

69,005

65,694

2,907

9,099

75,355

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization

87,653

79,986

75,370

70,342

77,539

63,271

62,156

61,307

62,478

61,862

58,529

58,082

72,478

71,368

69,845

72,559

75,360

Deferred income taxes

-25,309

-8,063

-14,268

-6,908

-24,923

-14,831

-2,892

-10,090

-23,228

-13,980

-1,573

-10,591

-37,245

-25,030

2,214

-26,985

-18,931

Changes in current assets and liabilities:
Accounts receivable, net of allowances

-45,837

34,630

17,003

-12,950

15,562

14,203

-11,045

21,562

-8,858

25,617

18,875

33,344

-36,889

-1,565

24,376

-7,382

-45,525

Accrued utility revenue

-31,000

-

-

-

-30,200

-

-

-

-

-

-

-

-

-

-

-

-

Accrued utility revenue

-

-

-

-

-

42,600

400

-13,100

-30,900

44,100

500

-12,300

-30,300

43,200

500

-12,600

-29,600

Deferred purchased gas costs

-10,155

21,883

-6,733

-24,522

67,863

18,189

-66,658

-44,733

10,628

16,481

5,931

3,290

69,906

35,531

2,900

-25,312

-58,977

Accounts payable

-60,723

44,214

2,076

-35,512

-12,643

60,396

-4,153

4,032

-48,497

46,732

23,676

4,851

-55,298

46,637

8,416

1,768

-35,126

Accrued taxes

30,377

8,084

-569

-27,672

25,400

-2,115

7,510

-36,126

18,776

-2,577

10,789

-26,497

20,397

33,395

5,066

-50,317

38,196

Other current assets and liabilities

-76,453

-89

-19,060

-7,140

-47,848

55,318

-18,051

16,163

643

51,247

-22,654

709

-21,099

39,454

-4,261

-985

-6,776

Gains on sale of equipment

28

2,316

2,326

598

233

706

747

20

230

2,744

25

1,088

339

3,031

1,375

1,409

1,333

Changes in undistributed stock compensation

2,816

829

1,365

1,514

3,188

1,425

1,386

1,439

1,861

1,689

1,468

1,620

6,111

1,109

833

2,120

1,394

Equity AFUDC

1,061

982

1,212

1,007

960

2,593

448

357

229

219

968

634

475

396

611

750

532

Changes in deferred charges and other assets

-6,495

5,196

-15

-458

16,328

-4,759

5,375

3,277

1,845

7,799

2,949

4,348

7,173

-13,034

-3,703

-514

291

Changes in other liabilities and deferred credits

-55,722

-2,978

-3,332

-3,672

-2,782

43,029

-10,535

-12,292

18,244

836

1,191

694

1,510

-13,634

-2,311

-4,221

1,719

Net cash provided by operating activities

271,566

121,886

100,070

90,305

188,111

121,463

160,371

66,455

180,567

70,711

101,052

36,349

161,843

122,586

60,744

102,627

314,551

CASH FLOW FROM INVESTING ACTIVITIES:
Construction expenditures and property additions

210,655

218,762

247,808

260,916

210,662

205,749

221,154

184,469

154,542

173,651

187,764

146,444

115,790

125,143

139,516

152,311

112,561

Acquisition of businesses, net of cash acquired

0

28,105

0

19,533

0

247,164

0

0

4,209

-

-

-

-

-

-

-

-

Changes in customer advances

5,434

-

-

-

3,078

-

-

-

-

-

-

-

-

-

-

-

-

Changes in customer advances

-

-

-

-

-

2,412

2,893

5,120

3,038

2,274

-521

-2,487

1,057

2,455

3,293

-1,509

3,661

Other

-4,430

-2,291

-11,703

-897

-262

-514

-1,263

-4,069

1,505

-25,805

2,255

2,184

4,721

5,074

3,839

3,000

1,126

Net cash used in investing activities

-200,791

-240,624

-230,539

-273,147

-207,322

-449,987

-216,998

-178,290

-154,208

-258,096

-186,030

-146,747

-110,012

-117,614

-132,384

-167,820

-107,774

CASH FLOW FROM FINANCING ACTIVITIES:
Issuance of common stock, net

3,148

28,605

26,598

76,864

25,879

262,168

23,095

57,919

11,220

29,592

11,659

-96

0

-58

43

86

401

Dividends paid

30,006

29,782

29,607

29,136

27,602

25,705

25,550

25,146

23,839

23,627

23,554

23,552

21,397

21,367

21,367

21,363

19,220

Centuri distribution to redeemable noncontrolling interest

-

-

-

-

-

-

-

-

102

0

0

102

102

340

0

0

99

Issuance of long-term debt, net

99,978

48,982

61,020

391,928

29,666

84,179

25,595

120,016

335,382

302,755

23,729

54,299

26,280

15,000

312,818

46,753

49,375

Retirement of long-term debt

75,168

86,614

73,571

22,444

31,160

94,001

42,981

79,674

21,102

238,729

40,199

12,278

47,763

58,922

143,385

10,654

42,312

Change in credit facility and commercial paper

0

-

-

-104,000

0

-

-

9,000

-111,000

0

58,000

77,000

10,000

5,000

-2,500

2,500

-150,000

Change in short-term debt

-54,000

181,000

30,000

-188,000

36,000

120,500

9,000

0

-192,000

-

-

-

-

0

0

0

-18,000

Principal payments on finance lease obligations

51

51

54

37

70

226

106

151

165

184

223

374

199

229

290

522

313

Redemption of Centuri shares from noncontrolling parties

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

Withholding remittance - share-based compensation

2,736

0

2

18

1,838

230

26

2

2,852

0

56

602

2,518

0

151

70

1,898

Other

-199

-2,443

2,133

-913

-53

-1,623

-223

-561

-337

-1,970

-68

-123

-913

-964

-481

-266

142

Net cash provided by (used in) financing activities

-59,034

139,697

120,517

124,244

30,822

345,062

90,804

81,503

-4,795

171,837

114,288

96,672

-36,612

-61,880

144,687

16,464

-181,924

Effects of currency translation on cash and cash equivalents

-315

100

-14

7

65

-347

263

-53

-71

18

140

27

116

-180

-19

46

-41

Change in cash and cash equivalents

11,426

21,059

-9,966

-58,591

11,676

16,191

34,440

-30,385

21,493

-15,530

29,450

-13,699

15,335

-57,088

73,028

-48,683

24,812

SUPPLEMENTAL INFORMATION:
Interest paid, net of amounts capitalized

13,073

40,093

12,169

34,146

15,850

36,994

9,486

26,788

13,294

26,172

10,589

24,894

10,288

20,306

13,910

22,631

10,593

Income taxes paid (received), net

-20,064

2,381

-1,461

1,378

454

-17,040

1,754

12,089

4,418

1,986

644

1,216

1,827

-25,562

1,793

2,601

2,136

Southwest Gas Corporation
Net income

83,599

76,425

-20,012

3,369

103,389

59,541

-13,670

2,622

90,349

74,382

-4,024

9,522

76,938

-

-

-

-

Net Income from continuing operations

-

-

-

-

-

-

-

-

-

-

-4,024

9,522

76,938

-

-

-

-

Depreciation and amortization

64,725

56,293

52,372

49,343

57,612

46,267

47,924

47,664

49,961

48,279

46,194

46,254

61,195

-

-

-

-

Deferred income taxes

-7,707

2,218

-7,716

-1,913

-26,270

-9,760

-5,868

-8,695

-18,676

-22,548

2,253

-7,651

-39,223

-

-

-

-

Accounts receivable, net of allowances

-1,975

77,264

-19,901

-77,040

30,414

69,963

-13,550

-64,305

28,201

51,720

-6,334

-44,556

7,072

-

-

-

-

Accrued utility revenue

-31,000

-

-

-

-30,200

-

-

-

-

-

-

-

-

-

-

-

-

Accrued utility revenue

-

-

-

-

-

42,600

400

-13,100

-30,900

44,100

500

-12,300

-30,300

-

-

-

-

Deferred purchased gas costs

-10,155

21,883

-6,733

-24,522

67,863

18,189

-66,658

-44,733

10,628

16,481

5,931

3,290

69,906

-

-

-

-

Accounts payable

-41,899

49,838

-2,524

-35,213

-39,574

76,625

-1,122

-17,531

-34,564

50,517

9,735

-10,971

-44,736

-

-

-

-

Accrued taxes

53,335

13,314

-4,367

-28,756

28,704

-2,706

-3,250

-40,252

27,476

6,291

6,915

-27,999

25,176

-

-

-

-

Other current assets and liabilities

-99,257

-1,302

-13,280

7,036

-81,625

56,290

10,788

27,529

-3,163

46,179

-8,188

13,077

-37,342

-

-

-

-

Changes in undistributed stock compensation

2,496

436

950

1,163

2,597

1,086

1,049

1,102

2,118

1,289

1,068

1,220

5,711

-

-

-

-

Equity AFUDC

1,061

982

1,212

1,007

960

2,593

448

357

229

219

968

634

475

-

-

-

-

Changes in deferred charges and other assets

-3,658

10,669

762

2,098

18,238

-3,976

5,535

3,492

1,998

8,057

3,060

4,540

7,261

-

-

-

-

Changes in other liabilities and deferred credits

-55,910

-3,004

-3,521

-3,859

-2,977

30,119

2,073

-12,410

17,887

658

1,188

497

1,198

-

-

-

-

Net cash provided by operating activities

259,037

38,288

67,654

91,481

170,371

35,033

101,909

80,650

164,910

37,208

62,886

61,489

147,633

-

-

-

-

Construction expenditures and property additions

173,353

191,343

222,154

201,615

163,636

196,832

200,038

154,256

131,743

164,985

171,378

123,078

101,007

-

-

-

-

Changes in customer advances

5,433

-

-

-

3,078

-

-

-

-

-

-

-

-

-

-

-

-

Changes in customer advances

-

-

-

-

-

2,412

2,893

5,120

3,038

2,274

-521

-2,487

1,057

-

-

-

-

Other

31

44

2

-29

78

1,302

-538

-1,071

293

-5,148

1,053

570

784

-

-

-

-

Net cash used in investing activities

-167,951

-187,435

-216,590

-195,181

-160,636

-195,722

-196,607

-148,651

-128,412

-162,377

-170,846

-124,995

-99,166

-

-

-

-

Issuance of common stock, net

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

Contributions from parent

50,000

33,750

24,094

79,250

22,842

22,905

34,048

56,596

0

-

-

-

-

-

-

-

-

Dividends paid

25,200

24,900

24,700

22,800

23,500

22,000

22,000

22,000

21,000

21,000

20,601

21,396

18,500

-

-

-

-

Issuance of long-term debt, net

0

0

0

297,222

0

0

0

0

297,495

-

-

-

-

-

-

-

-

Retirement of long-term debt

-

-

-

-

-

-

-

-

-

0

0

0

25,000

-

-

-

-

Change in credit facility and commercial paper

0

-

-

-104,000

0

-

-

9,000

-111,000

0

58,000

77,000

10,000

-

-

-

-

Change in short-term debt

-97,000

164,000

30,000

-188,000

36,000

143,000

9,000

0

-191,000

-

-

-

-

-

-

-

-

Withholding remittance - share-based compensation

2,736

1

1

18

1,838

230

25

3

2,852

0

56

602

2,518

-

-

-

-

Other

-115

-24

-89

-659

-53

-89

-160

-481

-298

-52

-19

-2

-523

-

-

-

-

Net cash provided by (used in) financing activities

-75,051

172,825

133,304

60,995

33,451

143,586

122,863

43,112

-28,655

116,648

131,983

55,000

-36,541

-

-

-

-

Change in cash and cash equivalents

16,035

23,678

-15,632

-42,705

43,186

-17,103

28,165

-24,889

7,843

-8,521

24,023

-8,506

11,926

-

-

-

-

Change in cash and cash equivalents of continuing operations

-

-

-

-

-

-

-

-

-

-

24,023

-8,506

11,926

-

-

-

-

Interest paid, net of amounts capitalized

10,204

36,938

8,867

31,268

11,585

30,819

9,534

23,156

10,296

24,039

8,546

23,216

8,989

-

-

-

-

Income taxes paid (received), net

-22,962

700

0

0

-22

-17,142

400

10,886

0

-7,858

-15

57

-38

-

-

-

-