Allegheny Power 2011 Annual Report Download - page 51

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36
Summary of Cash Flows
Provided from (Used for) Investing Activities
Sources (Uses)
2011
Regulated distribution
Competitive energy services
Regulated independent transmission
Cash received in Allegheny merger
Other and reconciling adjustments
Total
2010
Regulated distribution
Competitive energy services
Regulated independent transmission
Other and reconciling adjustments
Total
2009
Regulated distribution
Competitive energy services
Regulated independent transmission
Other and reconciling adjustments
Total
Property
Additions
$ (1,060)
(927)
(192)
—
(99)
$ (2,278)
$ (681)
(1,159)
(64)
(59)
$ (1,963)
$ (718)
(1,412)
(32)
(41)
$ (2,203)
Investments
(In millions)
$ 30
545
—
590
223
$ 1,388
$ 96
(43)
—
(30)
$ 23
$ 39
(8)
—
(27)
$ 4
Other
$ (83)
3
(3)
—
17
$ (66)
$ 17
(51)
(4)
30
$ (8)
$ (45)
(19)
(1)
79
$ 14
Total
$ (1,113)
(379)
(195)
590
141
$ (956)
$ (568)
(1,253)
(68)
(59)
$ (1,948)
$ (724)
(1,439)
(33)
11
$ (2,185)
Net cash used for investing activities in 2011 decreased by $992 million compared to 2010. The decrease was principally due to
cash acquired in the Allegheny merger ($590 million) and an increase in proceeds from asset sales ($723 million), partially offset
by increased property additions ($315 million).
Our capital spending for 2012 is expected to be approximately $2.1 billion (excluding nuclear fuel). For 2013, we anticipate baseline
capital expenditures of approximately $2.0 billion, which exclude any potential additional strategic opportunities, future mandated
spending, energy efficiency or environmental spending relating to MATS. Planned capital initiatives are intended to promote reliability,
improve operations, and support current environmental and energy efficiency directives. Our capital investments for additional
nuclear fuel are expected to be $280 million and $219 million in 2012 and 2013, respectively.
CONTRACTUAL OBLIGATIONS
As of December 31, 2011, our estimated cash payments under existing contractual obligations that we consider firm obligations
are as follows:
Contractual Obligations
Long-term debt(1)
Interest on long-term debt(2)
Operating leases(3)
Fuel and purchased power(4)
Capital expenditures
Pension funding
Other(5)
Total
Total
(In millions)
$ 17,005
12,071
3,147
32,877
2,715
1,030
263
$ 69,108
2012
$ 1,605
975
258
3,598
681
—
28
$ 7,145
2013-2014
$ 2,192
1,804
492
5,589
984
231
105
$ 11,397
2015-2016
$ 2,688
1,548
598
4,616
638
799
47
$ 10,934
Thereafter
$ 10,520
7,744
1,799
19,074
412
—
83
$ 39,632
(1) Excludes unamortized discounts and premiums and fair value accounting adjustments.
(2) Interest on variable-rate debt based on rates as of December 31, 2011.
(3) See Note 6, Leases of the Combined Notes to the Consolidated Financial Statements.
(4) Amounts under contract with fixed or minimum quantities based on estimated annual requirements.
(5) Includes amounts for capital leases (see Note 6, Leases of the Combined Notes to the Consolidated Financial Statements) and contingent
tax liabilities (see Note 5, Taxes of the Combined Notes to the Consolidated Financial Statements).