CenterPoint Energy 2014 Annual Report Download - page 83
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CENTERPOINT ENERGY, INC. AND SUBSIDIARIES
STATEMENTS OF CONSOLIDATED CASH FLOWS
Year Ended December 31,
2014
2013
2012
(in millions)
Cash Flows from Operating Activities:
Net income
$
611
$
311
$
417
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
1,013
954
1,050
Amortization of deferred financing costs
28
30
32
Deferred income taxes
280
356
328
Goodwill impairment —
—
252
Step acquisition gain —
—
(
136
)
Unrealized gain on marketable securities
(163
)
(236
)
(154
)
Unrealized loss on indexed debt securities
86
193
71
Write-down of natural gas inventory
8
4
4
Equity in earnings of unconsolidated affiliates, net of distributions
(2
)
(58
)
8
Pension contributions
(97
)
(91
)
(82
)
Changes in other assets and liabilities:
Accounts receivable and unbilled revenues, net
39
(256
)
10
Inventory
(102
)
(22
)
27
Taxes receivable
(190
)
7
(7
)
Accounts payable
(3
)
152
(6
)
Fuel cost recovery
(41
)
108
(52
)
Non-trading derivatives, net
(34
)
4
20
Margin deposits, net
(79
)
16
53
Interest and taxes accrued
(23
)
41
(62
)
Net regulatory assets and liabilities
22
61
66
Other current assets
1
(2
)
(12
)
Other current liabilities
(20
)
21
18
Other assets
9
(24
)
(18
)
Other liabilities
41
20
16
Other, net
13
24
17
Net cash provided by operating activities
1,397
1,613
1,860
Cash Flows from Investing Activities:
Capital expenditures, net of acquisitions
(1,372
)
(1,286
)
(1,212
)
Acquisitions, net of cash acquired —
—
(
360
)
Decrease (increase) in restricted cash of transition and system restoration bond companies
(7
)
17
(13
)
Investment in unconsolidated affiliates
(1
)
—
(
5
)
Cash contribution to Enable —
(
38
)
—
Proceeds from sale of marketable securities —
9
—
Other, net
(4
)
(2
)
(13
)
Net cash used in investing activities
(1,384
)
(1,300
)
(1,603
)
Cash Flows from Financing Activities:
Increase (decrease) in short-term borrowings, net
10
5
(24
)
Proceeds from (payments of) commercial paper, net
414
118
(285
)
Proceeds from long-term debt
600
1,050
2,495
Payments of long-term debt
(537
)
(1,573
)
(1,590
)
Cash paid for debt exchange and debt retirement
(1
)
(7
)
(69
)
Debt issuance costs
(8
)
(3
)
(16
)
Redemption of indexed debt securities —
(
8
)
—
Payment of common stock dividends
(408
)
(355
)
(346
)
Proceeds from issuance of common stock, net
1
4
4