Atmos Energy 1997 Annual Report Download - page 32

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27
ATMOS ENERGY CORPORATION
Consolidated Statements of Cash Flows
(In thousands) YEAR ENDED SEPTEMBER 30,
1997 1996 1995
__________________________________________________ __________________________________________________ ___________________________________________________
CASH FLOWS FROM OPERATING ACTIVITIES
Net income..................................................................................................................................................................................................................................... $ 14,575 $ 41,151 $ 28,808
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization
Charged to depreciation and amortization........................................................................................................................................................................... 39,970 41,666 40,597
Charged to other accounts.................................................................................................................................................................................................... 2,237 3,580 3,601
Deferred income taxes .............................................................................................................................................................................................................. 5,807 7,585 4,652
Other .......................................................................................................................................................................................................................................... -(1,866) 293
Change in assets and liabilities
(Increase) decrease in accounts receivable ........................................................................................................................................................................... 32,198 (12,697) (9,199)
(Increase) decrease in inventories.......................................................................................................................................................................................... 1,562 (1,238) (827)
(Increase) decrease in gas stored underground.................................................................................................................................................................... (4,772) (15,949) 11,707
(Increase) decrease in prepayments ...................................................................................................................................................................................... (3,208) 1,966 (419)
Increase in deferred charges and other assets ..................................................................................................................................................................... (29,683) (4,623) (10,832)
Increase (decrease) in accounts payable ............................................................................................................................................................................... (17,695) 23,796 3,415
Increase (decrease) in taxes payable..................................................................................................................................................................................... (837) 7,099 162
Increase (decrease) in customers’ deposits........................................................................................................................................................................... (1,714) 592 1,235
Increase (decrease) in other current liabilities....................................................................................................................................................................... 28,716 (4,165) 5,096
Increase in deferred credits and other liabilities................................................................................................................................................................... 1,593 4,836 854
__________________________________________________ __________________________________________________ ___________________________________________________
Net cash provided by operating activities............................................................................................................................................................................ 68,749 91,733 79,143
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures.................................................................................................................................................................................................................. (122,312) (117,589) (103,904)
Retirements of property, plant and equipment ........................................................................................................................................................................ 1,189 5,708 2,456
__________________________________________________ __________________________________________________ ___________________________________________________
Net cash used in investing activities ..................................................................................................................................................................................... (121,123) (111,881) (101,448)
CASH FLOWS FROM FINANCING ACTIVITIES
Net increase (decrease) in notes payable ................................................................................................................................................................................. 38,812 62,675 (38,475)
Proceeds from issuance of long-term debt............................................................................................................................................................................... 40,000 - 67,000
Repayment of long-term debt................................................................................................................................................................................................... (14,659) (20,734) (10,347)
Cash dividends paid................................................................................................................................................................................................................... (26,415) (28,478) (26,197)
Issuance of common stock......................................................................................................................................................................................................... 9,518 8,523 34,109
__________________________________________________ __________________________________________________ ___________________________________________________
Net cash provided by financing activities ............................................................................................................................................................................. 47,256 21,986 26,090
__________________________________________________ __________________________________________________ ___________________________________________________
Net increase (decrease) in cash and cash equivalents .................................................................................................................................................................. (5,118) 1,838 3,785
Cash and cash equivalents at beginning of year .......................................................................................................................................................................... 11,134 9,296 5,511
__________________________________________________ __________________________________________________ ___________________________________________________
Cash and cash equivalents at end of year..................................................................................................................................................................................... $ 6,016 $ 11,134 $ 9,296
__________________________________________________ __________________________________________________ ___________________________________________________
__________________________________________________ __________________________________________________ ___________________________________________________
See accompanying notes to consolidated financial statements.