Duke Energy 2013 Annual Report Download - page 101

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83
PART II
Years Ended December 31,
(in millions) 2013 2012 2011
CASH FLOWS FROM OPERATING ACTIVITIES
Net income $ 500 $ 272 $ 516
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion (including amortization of nuclear fuel) 685 676 654
Equity component of AFUDC (42) (69) (71)
Severance expense — 18 —
FERC mitigation costs — 71 —
Community support and charitable contributions expense 20 36 —
Gains on sales of other assets and other, net (1) (1) (3)
Impairment charges 22 — 3
Deferred income taxes 368 164 262
Accrued pension and other post-retirement benefit costs 72 70 43
Contributions to qualified pension plans (63) (141) (217)
(Increase) decrease in
Net realized and unrealized mark-to-market and hedging transactions (9) (25) (23)
Receivables (88) 2 84
Receivables from affiliated companies 3 (4) 8
Inventory (26) (58) (182)
Other current assets (39) (24) 116
Increase (decrease) in
Accounts payable (18) 149 (22)
Accounts payable to affiliated companies 27 47 (45)
Taxes accrued 15 (5) (4)
Other current liabilities (86) 23 40
Other assets (74) (28) (38)
Other liabilities (78) (6) 16
Net cash provided by operating activities 1,188 1,167 1,137
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures (1,567) (1,525) (1,426)
Purchases of available-for-sale securities (901) (582) (572)
Proceeds from sales and maturities of available-for-sale securities 856 532 515
Notes receivable from affiliated companies — — 2
Other 4 91 12
Net cash used in investing activities (1,608) (1,484) (1,469)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the issuance of long-term debt 845 988 495
Payments for the:
Redemption of long-term debt (451) (502) (2)
Redemption of preferred stock (62) — —
Notes payable and commercial paper — (188) 185
Notes payable to affiliated companies 98 333 31
Dividends to parent — (310) (585)
Dividends paid on preferred stock — (3) (3)
Other (7) (3) 1
Net cash provided by financing activities 423 315 122
Net increase (decrease) in cash and cash equivalents 3 (2) (210)
Cash and Cash Equivalents at Beginning of Period 18 20 230
Cash and Cash Equivalents at End of Period $ 21 $ 18 $ 20
Supplemental Disclosures:
Cash paid for interest, net of amount capitalized $ 217 $ 249 $ 199
Cash (received from) paid for income taxes (94) 19 (97)
Significant non-cash transactions:
Accrued capital expenditures 166 232 270
Asset retirement obligation additions — 698 (4)
Capital expenditures financed through capital leases — 140 —
See Notes to Consolidated Financial Statements
DUKE ENERGY PROGRESS, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS