Duke Energy 2012 Annual Report Download - page 94
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74
PART II
Years Ended December 31,
(in millions) 2012 2011 2010
CASH FLOWS FROM OPERATING ACTIVITIES
Net income $ 1,782 $ 1,714 $ 1,323
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion (including amortization of nuclear fuel) 2,652 2,026 1,994
Equity component of AFUDC (300) (260) (234)
Severance expense 92 — —
FERC mitigation costs 117 ——
Community support and charitable contributions expense 92 ——
Gains on sales of other assets (44) (19) (268)
Impairment of other long-lived assets 586 335 738
Deferred income taxes 584 602 741
Equity in earnings of unconsolidated affi liates (148) (160) (116)
Voluntary opportunity cost deferral (101) ——
Contributions to qualifi ed pension plans (304) (200) (400)
Accrued pension and other post-retirement benefi t costs 239 104 117
(Increase) decrease in
Net realized and unrealized mark-to-market and hedging transactions 60 (48) 15
Receivables 39 2 19
Inventory (258) (247) 198
Other current assets 140 185 227
Increase (decrease) in
Accounts payable 131 41 167
Taxes accrued (142) 27 30
Other current liabilities 295 (254) 43
Other assets (129) 12 157
Other liabilities (139) (188) (240)
Net cash provided by operating activities 5,244 3,672 4,511
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures (5,501) (4,363) (4,803)
Investment expenditures (6) (50) (52)
Acquisitions (451) (51) —
Cash acquired from the merger with Progress Energy 71 — —
Purchases of available-for-sale securities (4,719) (3,194) (2,166)
Proceeds from sales and maturities of available-for-sale securities 4,537 3,063 2,261
Net proceeds from the sales of other assets, and sales of and collections on notes receivable 212 118 406
Change in restricted cash (414) 22 (75)
Other 74 21 6
Net cash used in investing activities (6,197) (4,434) (4,423)
DUKE ENERGY CORPORATION
Consolidated Statements of Cash Flows
See Notes to Consolidated Financial Statements