Allegheny Power 2014 Annual Report Download - page 51

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36
On December 19, 2014, the maturity date for a $200 million term loan agreement for which FE is the borrower was extended an
additional year to December 31, 2016.
Cash Flows From Investing Activities
Cash used for investing activities in 2014 principally represented cash used for property additions. The following table summarizes
investing activities for 2014, 2013 and 2012:
For the Years Ended December 31,
Cash Used for Investing Activities 2014 2013 2012
(In millions)
Property Additions:
Regulated distribution $ 972 $ 1,272 $ 1,074
Regulated transmission 1,329 461 507
Competitive energy services 939 827 1,014
Other and reconciling adjustments 72 78 83
Nuclear fuel 233 250 286
Proceeds from asset sales (394) (4) (17)
Investments 68 72 (62)
Asset removal costs 153 146 229
Other (13) (9) 43
$ 3,359 $ 3,093 $ 3,157
Net cash used for investing activities during 2014 increased by $266 million compared to 2013 primarily due to increased property
additions of $648 million primarily at the Regulated Transmission segment associated with its Energizing the Future investment
plan, partially offset by proceeds received from the sale of hydro assets in the first quarter of 2014.
CONTRACTUAL OBLIGATIONS
As of December 31, 2014, our estimated cash payments under existing contractual obligations that we consider firm obligations
are as follows:
Contractual Obligations Total 2015 2016-2017 2018-2019 Thereafter
(In millions)
Long-term debt(1) $ 19,807 $ 769 $ 2,882 $ 3,953 $ 12,203
Short-term borrowings 1,799 1,799 — — —
Interest on long-term debt(2) 12,798 1,008 1,901 1,563 8,326
Operating leases(3) 2,227 205 303 237 1,482
Fuel and purchased power(4) 17,229 2,206 3,425 2,844 8,754
Capital expenditures 4,638 1,555 2,261 786 36
Pension funding 2,212 144 879 646 543
Other(5) 210 46 72 52 40
Total $ 60,920 $ 7,732 $ 11,723 $ 10,081 $ 31,384
(1) Excludes unamortized discounts and premiums, fair value accounting adjustments and capital leases.
(2) Interest on variable-rate debt based on rates as of December 31, 2014.
(3) See Note 6, Leases, of the Combined Notes to 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 Consolidated Financial Statements) and contingent tax
liabilities (see Note 5, Taxes, of the Combined Notes to Consolidated Financial Statements).
Excluded from the table above are estimates for the cash outlays from power purchase contracts entered into by most of the Utilities
and under which they procure the power supply necessary to provide generation service to their customers who do not choose an
alternative supplier. Although actual amounts will be determined by future customer behavior and consumption levels, management
currently estimates these cash outlays will be approximately $3.4 billion in 2015, $0.6 billion of which are expected to relate to the
Utilities' contracts with FES.