Duke Energy 2013 Annual Report Download - page 95
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77
PART II
PROGRESS ENERGY, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
Years Ended December 31,
(in millions) 2013 2012 2011
CASH FLOWS FROM OPERATING ACTIVITIES
Net income $ 675 $ 407 $ 582
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion (including amortization of nuclear fuel) 1,041 897 850
Equity component of AFUDC (50) (106) (103)
Severance expense —38 —
FERC mitigation costs —71 —
Community support and charitable contributions expense 20 36 —
Losses (gains) on sales of other assets 2(16) (5)
Impairment charges 380 146 3
Deferred income taxes 616 263 353
Amount to be refunded to customers —100 288
Accrued pension and other post-retirement benefit costs 172 179 124
Contributions to qualified pension plans (250) (346) (331)
(Increase) decrease in
Net realized and unrealized mark-to-market and hedging transactions 55 7 (10)
Receivables (148) 49 167
Receivables from affiliated companies 11 (15) —
Inventory 17 (71) (210)
Other current assets (156) 2 (111)
Increase (decrease) in
Accounts payable (81) 175 (64)
Accounts payable to affiliated companies 93 30 —
Taxes accrued 22 25 (16)
Other current liabilities 61 81 67
Other assets (243) (25) (67)
Other liabilities (115) (87) 98
Net cash provided by operating activities 2,122 1,840 1,615
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures (2,490) (2,366) (2,256)
Purchases of available-for-sale securities (2,558) (1,374) (5,017)
Proceeds from sales and maturities of available-for-sale securities 2,513 1,325 4,970
Insurance proceeds —7 79
Change in restricted cash —24 (24)
Notes receivable from affiliated companies (75) — —
Other 13 102 36
Net cash used in investing activities (2,597) (2,282) (2,212)
See Notes to Consolidated Financial Statements