Entergy 2003 Annual Report Download - page 56

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54
ENTERGY CORPORATION AND SUBSIDIARIES 2003
CONSOLIDATED STATEMENTS OF CASH FLOWS
In thousands, for the years ended December 31, 2003 2002 2001
OPERATING ACTIVITIES
Consolidated net income $ 950,467 $ 623,072 $ 750,507
Noncash items included in net income:
Reserve for regulatory adjustments 13,090 18,848 (359,199)
Other regulatory credits – net (13,761) (141,836) (20,510)
Depreciation, amortization, and decommissioning 996,603 915,597 749,619
Deferred income taxes and investment tax credits 1,189,531 (256,664) 87,752
Allowance for equity funds used during construction (42,710) (31,658) (26,209)
Cumulative effect of accounting changes (137,074) – (23,482)
Equity in undistributed earnings of
unconsolidated equity affiliates (176,036) (181,878) (150,799)
Provision for turbine commitments,
asset impairments, and restructuring charges (7,743) 428,456 –
Changes in working capital
Receivables (140,612) (43,957) 302,230
Fuel inventory (14,015) 1,030 (3,419)
Accounts payable (60,164) 286,230 (415,160)
Taxes accrued (828,539) 462,956 486,676
Interest accrued (35,837) 7,209 17,287
Deferred fuel (33,874) 156,181 495,007
Other working capital accounts 16,809 (286,232) (39,978)
Provision for estimated losses and reserves 196,619 10,533 19,093
Changes in other regulatory assets 22,671 71,132 119,215
Other 110,395 142,684 226,918
Net cash flow provided by operating activities 2,005,820 2,181,703 2,215,548
INVESTING ACTIVITIES
Construction/capital expenditures (1,568,943) (1,530,301) (1,380,417)
Allowance for equity funds used during construction 42,710 31,658 26,209
Nuclear fuel purchases (224,308) (250,309) (130,670)
Proceeds from sale/leaseback of nuclear fuel 150,135 183,664 71,964
Proceeds from sale of assets and businesses 25,987 215,088 784,282
Investment in non-utility properties (71,438) (216,956) (647,015)
Decrease (increase) in other investments 172,187 38,964 (631,975)
Changes in other temporary investments (50,000) 150,000 (150,000)
Decommissioning trust contributions
and realized change in trust assets (91,518) (84,914) (95,571)
Other regulatory investments (156,446) (39,390) (3,460)
Other (11,496) 114,033 (68,067)
Net cash flow used in investing activities (1,783,130) (1,388,463) (2,224,720)
See Notes to Consolidated Financial Statements.