Duke Energy 2014 Annual Report Download - page 94

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74
PART II
Years Ended December 31,
(in millions) 2014 2013 2012
CASH FLOWS FROM OPERATING ACTIVITIES
Net income $ 1,072 $ 976 $ 865
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization (including amortization of nuclear fuel) 1,273 1,167 1,143
Equity component of AFUDC (91) (91) (154)
FERC mitigation costs 3—46
Community support and charitable contributions expense —14 56
Gains on sales of other assets and other, net —— (12)
Deferred income taxes 376 534 479
Voluntary opportunity cost deferral —— (101)
Accrued pension and other post-retirement benefi t costs 22 38 41
(Increase) decrease in
Net realized and unrealized mark-to-market and hedging transactions —(9) —
Receivables 48 (12) 22
Receivables from affi liated companies —(72) (1)
Inventory (60) (9) (128)
Other current assets (236) (1) 46
Increase (decrease) in
Accounts payable 10 58 (51)
Accounts payable to affi liated companies (7) 33 (28)
Taxes accrued (15) 4 (12)
Other current liabilities (10) (40) 165
Other assets 17 (102) (117)
Other liabilities (22) (77) (126)
Net cash provided by operating activities 2,380 2,411 2,133
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures (1,879) (1,695) (1,908)
Purchases of available-for-sale securities (2,064) (2,405) (2,481)
Proceeds from sales and maturities of available-for-sale securities 2,044 2,363 2,445
Notes receivable from affi liated companies 72 160 541
Other (18) (24) (12)
Net cash used in investing activities (1,845) (1,601) (1,415)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the issuance of long-term debt —100 645
Payments for the redemption of long-term debt (45) (405) (1,177)
Distributions to parent (500) (499) (450)
Other —(2) (6)
Net cash used in fi nancing activities (545) (806) (988)
Net (decrease) increase in cash and cash equivalents (10) 4 (270)
Cash and cash equivalents at beginning of period 23 19 289
Cash and cash equivalents at end of period $13 $23 $ 19
Supplemental Disclosures:
Cash paid for interest, net of amount capitalized $ 388 $ 336 $ 385
Cash paid for (received from) income taxes 305 (7) (38)
Signifi cant non-cash transactions:
Accrued capital expenditures 194 199 194
See Notes to Consolidated Financial Statements
DUKE ENERGY CAROLINAS, LLC
CONSOLIDATED STATEMENTS OF CASH FLOWS