Duke Energy 2013 Annual Report Download - page 111
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93
PART II
Years Ended December 31,
(in millions) 2013 2012 2011
CASH FLOWS FROM OPERATING ACTIVITIES
Net income $ 102 $ 175 $ 194
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 357 342 338
Equity component of AFUDC (1) (6) (5)
Gains on sales of other assets and other, net (5) (7) (5)
Impairment charges 5 2 89
Deferred income taxes 98 61 190
Accrued pension and other post-retirement benefit costs 17 11 14
Contributions to qualified pension plans — — (48)
(Increase) decrease in
Net realized and unrealized mark-to-market and hedging transactions 17 (5) (8)
Receivables (15) 29 10
Receivables from affiliated companies (39) 61 98
Inventory (3) 15 11
Other current assets (1) (62) (24)
Increase (decrease) in
Accounts payable 13 5 (33)
Accounts payable to affiliated companies 15 (22) 1
Taxes accrued 1 (24) 8
Other current liabilities 14 (21) (3)
Other assets (6) 6 (56)
Other liabilities (73) (116) 47
Net cash provided by operating activities 496 444 818
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures (434) (514) (499)
Net proceeds from the sales of other assets 11 82 —
Notes receivable from affiliated companies (56) 400 79
Change in restricted cash — — (26)
Other 1 6 (3)
Net cash used in investing activities (478) (26) (449)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the issuance of long-term debt 450 — —
Payments for the redemption of long-term debt (258) (556) (9)
Notes payable to affiliated companies (202) 245 —
Dividends to parent — (175) (485)
Other (3) — (4)
Net cash used in financing activities (13) (486) (498)
Net increase (decrease) in cash and cash equivalents 5 (68) (129)
Cash and cash equivalents at beginning of period 31 99 228
Cash and cash equivalents at end of period $ 36 $ 31 $ 99
Supplemental Disclosures:
Cash paid for interest, net of amount capitalized $ 71 $ 93 $ 100
Cash paid for (received from) income taxes 9 18 (102)
Significant non-cash transactions:
Accrued capital expenditures 27 31 43
Transfer of Vermillion Generating Station to Duke Energy Indiana — 28 —
See Notes to Consolidated Financial Statements
DUKE ENERGY OHIO, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS