Duke Energy 2012 Annual Report Download - page 112

92
PART II
Years Ended December 31,
(in millions) 2012 2011 2010
CASH FLOWS FROM OPERATING ACTIVITIES
Net income $ 272 $ 516 $ 602
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion (including amortization of nuclear fuel) 676 654 593
Equity component of AFUDC (69) (71) (64)
Severance expense 18 ——
FERC mitigation costs 71 ——
Community support and charitable contributions expense 36 ——
Gains on sales of other assets and other, net (1) (3) (1)
Impairment charges —3 5
Deferred income taxes 164 262 285
Accrued pension and other post-retirement benefi t costs 70 43 43
Contributions to qualifi ed pension plans (141) (217) (95)
(Increase) decrease in
Net realized and unrealized mark-to-market and hedging transactions (25) (23) (11)
Receivables 2 84 (68)
Receivables from affi liated companies (4) 8 5
Inventory (58) (182) 83
Other current assets (24) 116 22
Increase (decrease) in
Accounts payable 149 (22) 49
Accounts payable to affi liated companies 47 (45) 20
Taxes accrued (5) (4) (4)
Other current liabilities 23 40 39
Other assets (28) (38) (22)
Other liabilities (6) 16 37
Net cash provided by operating activities 1,167 1,137 1,518
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures (1,525) (1,426) (1,382)
Purchases of available-for-sale securities (582) (572) (490)
Proceeds from sales and maturities of available-for-sale securities 532 515 437
Notes receivable from affi liated companies —2 202
Other 91 12 3
Net cash used in investing activities (1,484) (1,469) (1,230)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the issuance of long-term debt 988 495 —
Payments for the redemption of long-term debt (502) (2) (1)
Notes payable and commercial paper (188) 185 —
Notes payable to affi liated companies 333 31 —
Contribution from parent —— 14
Dividends paid to parent (310) (585) (100)
Dividends paid on preferred stock (3) (3) (3)
Other (3) 1 (3)
Net cash provided by (used in) fi nancing activities 315 122 (93)
Net (decrease) increase in cash and cash equivalents (2) (210) 195
Cash and cash equivalents at beginning of period 20 230 35
Cash and cash equivalents at end of period $ 18 $ 20 $ 230
Supplemental Disclosures
Cash paid for interest, net of amount capitalized $ 249 $ 199 $ 166
Cash paid for (received from) income taxes $ 19 $ (97) $ 108
Signifi cant non-cash transactions:
Accrued capital expenditures $ 232 $ 270 $ 247
Asset retirement obligation additions and estimate revisions $ 698 $ (4) $ 1
Capital expenditures fi nanced through capital leases $ 140 $— $—
See Notes to Consolidated Financial Statements
CAROLINA POWER & LIGHT COMPANY d/b/a PROGRESS ENERGY CAROLINAS, INC.
Consolidated Statements of Cash Flows