Duke Energy 2014 Annual Report Download - page 88
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68
PART II
Years Ended December 31,
(in millions) 2014 2013 2012
CASH FLOWS FROM OPERATING ACTIVITIES
Net income $ 1,889 $ 2,676 $ 1,782
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion (including amortization of nuclear fuel) 3,507 3,229 2,652
Equity component of AFUDC (135) (157) (300)
Severance expense ——92
FERC mitigation costs (15) — 117
Community support and charitable contributions expense —34 92
Gains on sales of other assets (33) (79) (44)
Impairment charges 915 400 586
Deferred income taxes 1,149 1,264 584
Equity in earnings of unconsolidated affi liates (130) (122) (148)
Voluntary opportunity cost deferral —— (101)
Accrued pension and other post-retirement benefi t costs 108 307 239
Contributions to qualifi ed pension plans —(250) (304)
(Increase) decrease in
Net realized and unrealized mark-to-market and hedging transactions 44 160
Receivables 58 (281) 39
Inventory (269) (31) (258)
Other current assets (414) (35) 140
Increase (decrease) in
Accounts payable (30) 73 131
Taxes accrued (14) 77 (142)
Other current liabilities (201) 24 295
Other assets 16 (384) (129)
Other liabilities 141 (364) (139)
Net cash provided by operating activities 6,586 6,382 5,244
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures (5,384) (5,526) (5,501)
Investment expenditures (90) (81) (6)
Acquisitions (54) — (451)
Cash acquired from the merger with Progress Energy ——71
Purchases of available-for-sale securities (4,110) (6,142) (4,719)
Proceeds from sales and maturities of available-for-sale securities 4,133 6,315 4,537
Net proceeds from the sales of equity investments and other assets, and sales of and collections on notes receivable 179 277 212
Change in restricted cash 9167 (414)
Other (56)12 74
Net cash used in investing activities (5,373) (4,978) (6,197)
DUKE ENERGY CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
See Notes to Consolidated Financial Statements