APS 2012 Annual Report Download - page 20

momentum 2012 ANNUAL REPORT
Condensed Consolidated Financial Statements
(DOLLARS IN MILLIONS) 2012 2011 2010
YEAR ENDED DECEMBER 31,
condensed consolidated statements of income
Operating revenues $ 3,302 $ 3,241 $ 3,189
Fuel and purchased power (995 ) (1,009 ) (1,047 )
Other operating expenses (1,455 ) (1,485 ) (1,427 )
Operating income 852 747 715
Net other income 4 16 19
Interest expense (200 ) (224 ) (228 )
Income taxes (237 ) (183 ) (161 )
Income from continuing operations 419 356 345
Income (loss) from discontinued operations – net of tax (6 ) 11 25
Net income 413 367 370
Less: Net income attributable to noncontrolling interests 31 28 20
Net income attributable to common shareholders $ 382 $ 339 $ 350
DECEMBER 31,
condensed consolidated balance sHeets
ASSETS
Current assets $ 1,006 $ 956 $ 1,024
Investments and other assets 669 628 625
Property, plant and equipment – net 10,397 9,962 9,579
Deferred debits 1,308 1,565 1,165
Total assets $ 13,380 $ 13,111 $ 12,393
LIABILITIES AND EQUITY
Current liabilities, excluding current maturities of long-term debt $ 961 $ 865 $ 818
Long-term debt 3,322 3,496 3,678
Deferred credits and other 4,995 4,819 4,122
Total equity 4,102 3,931 3,775
Total liabilities and equity $ 13,380 $ 13,111 $ 12,393
YEAR ENDED DECEMBER 31,
condensed consolidated statements of casH floWs
Cash and cash equivalents at beginning of year $ 34 $ 110 $ 145
Net cash flow provided by operating activities 1,171 1,126 751
Net cash flow used for investing activities (873 ) (782 ) (576 )
Net cash flow used for financing activities (306 ) (420 ) (210 )
Cash and cash equivalents at end of year $ 26 $ 34 $ 110
Complete audited consolidated financial statements are included in our Annual Report on Form 10-K.