ComEd 2013 Annual Report Download - page 115
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Exelon Corporation and Subsidiary Companies
Consolidated Statements of Cash Flows For the Years Ended
December 31,
(In millions) 2013 2012 2011
Cash flows from operating activities
Net income.................................................................. $1,729$1,171$2,499
Adjustmentsto reconcile net income to net cash flows providedbyoperatingactivities:
Depreciation,amortization,depletion andaccretion,includingnuclear fuel andenergy
contractamortization ..................................................... 3,779 4,079 2,316
Loss on sale ofthree Marylandgeneratingstations ............................. — 272—
Deferredincometaxesandamortization ofinvestment taxcredits ................. 1196151,457
Net fairvalue changesrelatedto derivatives ................................... (445) (604) 291
Net realizedandunrealized(gains) losseson nuclear decommissioningtrustfund
investments ............................................................ (170)(157) 14
Other non-cash operatingactivities........................................... 876 1,383770
Changesina
ssetsandliabilities:
Accountsreceivable ....................................................... (97) 24357
Inventories ............................................................... (100)26 (58)
Accountspayable,accruedexpensesandother current liabilities .................. (90)(632)(254)
Option premiums paid, net .................................................. (36) (114) (3)
Counterpartycollateral received(posted), net .................................. 215135(344)
Incometaxes ............................................................. 883544 492
Pension andnon-pension postretirement benefitcontributions .................... (422) (462)(2,360)
Other assetsandliabilities .................................................. 102 (368) (24)
Net cash flows provided by operating activities ..................................... 6,3436,131 4,853
Cash flows from investing activities
Capital expenditures........................................................... (5,395) (5,789) (4,042)
Proceeds fromnuclear decommissioningtrustfundsales ............................ 4,2177,265 6,139
Investment innuclear decommissioningtrustfunds ................................. (4,450) (7,483) (6,332)
Cash andrestrictedcash acquiredfromConstellation ............................... — 964 —
Acquisitionsoflonglivedassets ................................................. — (21)(387)
Proceeds fromsale oflong-livedassets ........................................... 32 371—
Proceeds fromsalesofinvestments .............................................. 22 286
Purchasesofinvestments ...................................................... (4) (13) (4)
Changeinrestrictedcash ...................................................... (43)(34) (3)
Distribution from CENG ........................................................ 115— —
Other investingactivities ....................................................... 112 13620
Net cash flows used in investing activities .......................................... (5,394) (4,576) (4,603)
Cash flows from financing activities
Payment ofaccountsreceivable agreement ....................................... (210)(15) —
Changesinshort-termdebt..................................................... 332 (197) 161
Issuanceoflong-termdebt..................................................... 2,055 2,0271,199
Retirement oflong-termdebt.................................................... (1,589) (1,145) (789)
Redemption ofpreferredsecurities ............................................... (93)— —
Dividends paid on common stock ................................................ (1,249) (1,716) (1,393)
Proceeds fromemployee stock plans............................................. 47 7238
Other financingactivities ....................................................... (119) (111)(62)
Net cash flows used in financing activities .......................................... (826) (1,085) (846)
Increase (decrease) in cash and cash equivalents ................................... 123 470(596)
Cash and cash equivalents at beginning of period ................................... 1,486 1,0161,612
Cash and cash equivalents at end of period ......................................... $1,609$1,486 $ 1,016
See theCombinedNotesto ConsolidatedFinancial Statements
109