PENNICHUCK CORPORATION AND SUBSIDIARIES
Consolidated Statements of Cash Flows
For the Years Ended December 31, 2021 and 2020
{in thousands)
2021 2020
Cash Flows From Operating Activities:
Net Loss $ (3,699) S (1,984)
Adjustments to reconcile net loss to net cash
provided by operating activities:
Depreciation and amortization 8,843 8,637
Amortization of deferred investment tax credits (33) (33)
Provision for deferred income taxes {161) 534
Gain on disposition of property {345) -
Changes in assets and liabilities:
(Increase) decrease in accounts receivable billed, unbilled and other (1,084) (3,154)
(Increase) decrease in inventory {135) 50
(Increase) decrease in prepaid expenses 365 (387)
(Increase) decrease in refundable income taxes - 8
(Increase) decrease in deferred charges and other assets 8,179 (2,079)
Increase (decrease) in accounts payable and deferred revenue (521) (549)
Increase (decrease) in accrued property taxes 145 -
Increase (decrease) in accrued interest payable 37 (419)
Increase (decrease) in other (2,387) 3,027
Net cash provided by operating activities 9,204 3,651
Cash Flows From Investing Activities:
Purchase of praperty, plant and equipment including debt
component of allowance for funds used during construction (8,816) {10,165)
Proceeds from sale of property 429 -
Net cash used far investing activities {8,387) {10,165)
(continued)
The accompanying notes are an integral part of these consolidated financial statements.
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