Southwest Gas Holdings Inc
For the period ended Dec 31, 2023. Filed Feb 28, 2024.
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FY2023 · Filed Feb 28, 2024
SWX$92.05-0.4%Stored close · as of Nov 10, 2026
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Southwest Gas Holdings, Inc. Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| CASH FLOW FROM OPERATING ACTIVITIES: | |||
| Net income (loss) | $155,517 | $(197,684) | $207,202 |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
| Depreciation and amortization | 440,908 | 470,455 | 371,041 |
| Impairment of assets and other charges | 71,230 | 455,425 | — |
| Deferred income taxes | 56,771 | (72,048) | 61,212 |
| Gains on sale of property and equipment | (4,683) | (7,865) | (6,906) |
| Changes in undistributed stock compensation | 8,079 | 9,446 | 9,294 |
| Equity AFUDC | (1,951) | (465) | — |
| Changes in current assets and liabilities: | |||
| Accounts receivable, net of allowances | (22,583) | (193,775) | (51,554) |
| Accrued utility revenue | (4,900) | (3,200) | (2,500) |
| Deferred purchased gas costs | (117,770) | (147,215) | (343,728) |
| Accounts payable | (286,161) | 293,909 | 50,426 |
| Accrued taxes | (2,302) | 17,929 | (6,725) |
| Other current assets and liabilities | 304,110 | (207,853) | (89,209) |
| Changes in deferred charges and other assets | (10,444) | 16,886 | (13,541) |
| Changes in other liabilities and deferred credits | (76,610) | (26,485) | (73,629) |
| Net cash provided by operating activities | 509,211 | 407,460 | 111,383 |
| CASH FLOW FROM INVESTING ACTIVITIES: | |||
| Construction expenditures and property additions | (872,521) | (859,421) | (715,626) |
| Acquisition of businesses, net of cash acquired | — | (18,809) | (2,354,260) |
| Proceeds from the sale of business, net of cash sold | 1,022,483 | — | — |
| Changes in customer advances | (8,905) | 21,506 | 15,974 |
| Other | 9,909 | 17,822 | 18,256 |
| Net cash provided by (used in) investing activities | 150,966 | (838,902) | (3,035,656) |
| CASH FLOW FROM FINANCING ACTIVITIES: | |||
| Issuance of common stock, net | 251,759 | 461,828 | 213,641 |
| Centuri distribution to redeemable noncontrolling interest | (39,894) | (39,649) | — |
| Dividends paid | (174,574) | (160,563) | (138,222) |
| Issuance of long-term debt, net | 1,044,861 | 1,067,805 | 1,660,696 |
| Retirement of long-term debt | (248,328) | (499,914) | (452,664) |
| Change in long-term credit facility and commercial paper | (50,000) | (80,000) | (20,000) |
| Issuance of short-term debt | 450,000 | — | 1,850,000 |
| Other changes in short-term debt | (1,916,748) | (366,193) | (48,000) |
| Withholding remittance – share-based compensation | (1,990) | (2,662) | (1,264) |
| Other, including principal payments on finance leases | (15,881) | (24,172) | (729) |
| Net cash provided by (used in) financing activities | (700,795) | 356,480 | 3,063,458 |
| Effects of currency translation on cash and cash equivalents | 273 | (854) | 160 |
| Change in cash and cash equivalents | (40,345) | (75,816) | 139,345 |
| Change in cash and cash equivalents included in current assets held for sale | 23,803 | (23,803) | — |
| Cash and cash equivalents at beginning of period | 123,078 | 222,697 | 83,352 |
| Cash and cash equivalents at end of period | $106,536 | $123,078 | $222,697 |
| SUPPLEMENTAL INFORMATION: | |||
| Interest paid, net of amounts capitalized | $282,626 | $219,825 | $104,352 |
| Income taxes paid, net | $9,365 | $12,001 | $4,208 |
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