ComEd 2011 Annual Report Download - page 38

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36
Consolidated Statements of Cash Flows
Exelon Corporation and Subsidiary Companies
For the years ended Dec. 31,
(Dollars in millions) 2011 2010 2009
Cash flows from operating activities
Net income $ 2,495 $ 2,563 $ 2,707
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation, amortization and accretion, including nuclear fuel amortization 2,304 2,943 2,601
Impairment of long-lived assets — — 223
Deferred income taxes and amortization of investment tax credits 1,457 981 756
Net fair value changes related to derivatives 291 (88) (95)
Net realized and unrealized losses (gains) on nuclear decommissioning trust fund investments 14 (105) (207)
Other non-cash operating activities 782 609 652
Changes in assets and liabilities:
Accounts receivable 57 (232) 234
Inventories (58) (62) 51
Accounts payable, accrued expenses and other current liabilities (254) 472 (254)
Option premiums paid, net (3) (124) (40)
Counterparty collateral (posted) received, net (344) (155) 196
Income taxes 492 (543) (29)
Pension and non-pension postretirement benefit contributions (2,360) (959) (588)
Other assets and liabilities (20) (56) (113)
Net cash flows provided by operating activities 4,853 5,244 6,094
Cash flows from investing activities
Capital expenditures (4,042) (3,326) (3,273)
Proceeds from nuclear decommissioning trust fund sales 6,139 3,764 4,292
Investment in nuclear decommissioning trust funds (6,332) (3,907) (4,531)
Acquisitions (387) (893) —
Proceeds from sales of investments 6 28 41
Purchases of investments (4) (22) (28)
Change in restricted cash (3) 423 35
Other investing activities 20 39 6
Net cash flows used in investing activities (4,603) (3,894) (3,458)