Duke Energy 2014 Annual Report Download - page 111

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91
PART II
DUKE ENERGY FLORIDA, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
Years Ended December 31,
(in millions) 2014 2013 2012
CASH FLOWS FROM OPERATING ACTIVITIES
Net income $ 548 $ 325 $ 266
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion 550 335 197
Equity component of AFUDC —(8) (37)
Severance expense ——6
Gains on sales of other assets and other, net (1) (1) (2)
Impairment charges 2358 146
Deferred income taxes 400 368 142
Amount to be refunded to customers —— 100
Accrued pension and other post-retirement benefi t costs 29 79 71
Contributions to qualifi ed pension plans —(133) (128)
(Increase) decrease in
Net realized and unrealized mark-to-market and hedging transactions (9) 55 73
Receivables (33) (44) 37
Receivables from affi liated companies (37) 17 (13)
Inventory (36) 42 (13)
Other current assets (269) (109) 22
Increase (decrease) in
Accounts payable 18 (22) 21
Accounts payable to affi liated companies 32 (6) 30
Taxes accrued (31) 18 15
Other current liabilities (80) 159 51
Other assets (59) (154) 8
Other liabilities (58) (74) (94)
Net cash provided by operating activities 966 1,205 898
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures (699) (915) (809)
Purchases of available-for-sale securities (1,189) (1,656) (791)
Proceeds from sales and maturities of available-for-sale securities 1,195 1,658 791
Notes receivable from affi liated companies —207 (207)
Other (31) —16
Net cash used in investing activities (724) (706) (1,000)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the issuance of long-term debt 225 — 642
Payments for the:
Redemption of long-term debt (252) (435) (10)
Redemption of preferred stock —(34) —
Proceeds from issuance of short-term debt with original maturities greater than 90 days ——65
Payments for the redemption of short-term debt with original maturities greater than 90 days —— (65)
Notes payable and commercial paper —— (233)
Notes payable to affi liated companies (97) 181 (8)
Dividends to parent (124) (325) (170)
Dividends paid on preferred stock —— (2)
Other (2) (1) (2)
Net cash (used in) provided by fi nancing activities (250) (614) 217
Net (decrease) increase in cash and cash equivalents (8) (115) 115
Cash and Cash Equivalents at Beginning of Period 16 131 16
Cash and Cash Equivalents at End of Period $8$ 16 $ 131
Supplemental Disclosures:
Cash paid for interest, net of amount capitalized $ 203 $ 201 $ 266
Cash paid for (received from) income taxes 59 (84) 24
Signifi cant non-cash transactions:
Accrued capital expenditures 100 88 139
Asset retirement obligation additions for spent nuclear fuel disposal related to the Progress Energy merger —— 139
See Notes to Consolidated Financial Statements