RGC RESOURCES INC
For the period ended Sep 30, 2024. Filed Dec 5, 2024.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Dec 5, 2024
RGCO$22.70-4.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
| 2024 | 2023 | |
|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net income | $11,760,896 | $11,299,282 |
| Adjustments to reconcile net income to net cash provided by operations: | ||
| Depreciation and amortization | 10,518,094 | 9,993,206 |
| Cost of retirement of utility property | (576,771) | (824,637) |
| Stock-based compensation | 711,924 | 21,560 |
| Equity in earnings of unconsolidated affiliate | (3,851,871) | (2,084,990) |
| Donated property | (781,990) | (311,473) |
| Allowance for funds used during construction | — | (362,685) |
| Deferred income taxes | (121,781) | 38,241 |
| Other noncash items, net | 516,836 | 244,207 |
| Changes in assets and liabilities which provided (used) cash: | ||
| Accounts receivable and customer deposits, net | (275,196) | 1,393,153 |
| Inventories and gas in storage | 2,568,942 | 5,285,142 |
| Regulatory and other assets | (2,765,027) | (891,152) |
| Regulatory liabilities | (1,006,472) | 88,368 |
| Other | 736,041 | (91,522) |
| Net cash provided by operating activities | 17,433,625 | 23,796,700 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Additions to utility property | (22,094,406) | (25,306,524) |
| Investment in unconsolidated affiliates | (18,258) | (2,133,534) |
| Proceeds from disposal of utility property | 79,032 | 37,940 |
| Net cash used in investing activities | (22,033,632) | (27,402,118) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Borrowings under line-of-credit | 45,388,194 | 33,172,013 |
| Repayments under line-of-credit | (38,575,585) | (28,818,441) |
| Proceeds from issuance of unsecured notes | 10,855,000 | 1,103,800 |
| Retirement of notes payable | (10,175,000) | (1,300,000) |
| Debt issuance expenses | (101,206) | (33,722) |
| Proceeds from issuance of stock | 4,679,209 | 3,903,362 |
| Cash dividends paid | (8,088,851) | (7,808,077) |
| Net cash provided by financing activities | 3,981,761 | 218,935 |
| NET DECREASE IN CASH AND CASH EQUIVALENTS | (618,246) | (3,386,483) |
| BEGINNING CASH AND CASH EQUIVALENTS | 1,512,431 | 4,898,914 |
| ENDING CASH AND CASH EQUIVALENTS | $894,185 | $1,512,431 |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||
| Cash paid during the year for: | ||
| Interest | $6,273,144 | $5,299,959 |
| Income taxes | 2,940,000 | 1,775,145 |
| Significant noncash investing activities: | ||
| Accrued capital expenditures | 1,257,734 | 1,132,621 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.