Duke Energy 2015 Annual Report Download - page 109

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89
PART II
Years Ended December 31,
(in millions) 2015 2014 2013
CASH FLOWS FROM OPERATING ACTIVITIES
Net income $ 566 $ 467 $ 500
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion (including amortization of nuclear fuel) 821 761 685
Equity component of AFUDC (47) (25) (42)
FERC mitigation costs —(18) —
Community support and charitable contributions expense —— 20
Gains on sales of other assets and other, net (7) (3) (1)
Impairment charges 5— 22
Deferred income taxes 354 455 368
Accrued pension and other post-retirement benefit costs (14) (7) 72
Contributions to qualified pension plans (42) — (63)
Payments for asset retirement obligations (109) — —
(Increase) decrease in
Net realized and unrealized mark-to-market and hedging transactions (3) 13 (9)
Receivables 43 78 (88)
Receivables from affiliated companies (6) (8) 3
Inventory (50) (65) (26)
Other current assets 185 (416) (39)
Increase (decrease) in
Accounts payable (65) 27 (18)
Accounts payable to affiliated companies 70 17 27
Taxes accrued (34) 10 15
Other current liabilities 76 (68) (86)
Other assets (83) 48 (74)
Other liabilities (66) (21) (78)
Net cash provided by operating activities 1,594 1,245 1,188
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures (1,669) (1,241) (1,567)
Asset acquisition (1,249) — —
Purchases of available-for-sale securities (727) (499) (901)
Proceeds from sales and maturities of available-for-sale securities 672 458 856
Notes receivable from affiliated companies 237 (237) —
Other (30) (12) 4
Net cash used in investing activities (2,766) (1,531) (1,608)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the issuance of long-term debt 1,186 1,347 845
Payments for the:
Redemption of long-term debt (991) (379) (451)
Redemption of preferred stock —— (62)
Notes payable to affiliated companies 359 (462) 98
Capital contribution from parent 626 — —
Dividends to parent —(225) —
Other (2) (7) (7)
Net cash provided by financing activities 1,178 274 423
Net increase (decrease) in cash and cash equivalents 6(12) 3
Cash and Cash Equivalents at Beginning of Period 9 21 18
Cash and Cash Equivalents at End of Period $ 15 $ 9 $ 21
Supplemental Disclosures:
Cash paid for interest, net of amount capitalized $ 218 $ 220 $ 217
Cash (received from) paid for income taxes (197) 81 (94)
Significant non-cash transactions:
Accrued capital expenditures 143 194 166
See Notes to Consolidated Financial Statements
DUKE ENERGY PROGRESS, LLC (formerly DUKE ENERGY PROGRESS, INC.)
CONSOLIDATED STATEMENTS OF CASH FLOWS