OG&E 2009 Annual Report Download - page 66

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OKLAHOMA GAS AND ELECTRIC COMPANY
STATEMENTS OF CASH FLOWS
Year ended December 31 (In millions) 2009 2008 2007
CASH FLOWS FROM OPERATING ACTIVITIES
Net income $ 200.4 $ 143.0 $ 161.7
Adjustments to reconcile net income to net cash provided from
operating activities
Depreciation and amortization 187.4 155.0 141.3
Impairment of assets 0.3 --- ---
Deferred income taxes and investment tax credits, net 202.8 87.2 3.6
Allowance for equity funds used during construction (15.1) --- ---
Loss on disposition and abandonment of assets 0.6 --- 3.8
Write-down of regulatory assets --- 9.2 ---
Price risk management assets --- --- 0.9
Price risk management liabilities 0.7 (1.7) 1.7
Other assets 22.0 1.6 (12.7)
Other liabilities (72.8) (30.0) (53.4)
Change in certain current assets and liabilities
Accounts receivable, net 26.3 (37.3) 3.3
Accrued unbilled revenues (10.2) (1.3) (6.0)
Fuel, materials and supplies inventories (50.5) (19.8) (19.6)
Gas imbalance assets 0.5 (0.5) (0.1)
Fuel clause under recoveries 23.7 3.3 (27.3)
Other current assets (4.8) (2.3) 1.5
Accounts payable (2.4) (59.3) 69.1
Accounts payable - affiliates (1.8) (4.1) 5.3
Income taxes payable - affiliates (112.1) (64.2) 44.3
Customer deposits 3.3 3.2 2.7
Accrued taxes 1.2 3.0 0.8
Accrued interest 7.2 11.7 (6.9)
Accrued compensation 1.2 (3.7) 4.6
Fuel clause over recoveries 178.9 4.4 (92.1)
Other current liabilities (6.6) 9.0 3.6
Net Cash Provided from Operating Activities 580.2 206.4 230.1
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures (less allowance for equity funds used during
construction) (600.5) (840.1) (377.3)
Proceeds from sale of assets 1.0 0.5 0.9
Net Cash Used in Investing Activities (599.5) (839.6) (376.4)
CASH FLOWS FROM FINANCING ACTIVITIES
Increase (decrease) in short-term debt, net (31.5) (267.0) 202.4
Proceeds from long-term debt 0.1 743.0 ---
Capital contribution from OGE Energy --- 293.0 ---
Dividends paid on common stock --- (35.0) (56.0)
Retirement of long-term debt --- (50.1) (0.1)
Net Cash (Used in) Provided from Financing Activities (31.4) 683.9 146.3
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (50.7) 50.7 ---
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 50.7 --- ---
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ --- $ 50.7 $ ---
The accompanying Notes to Financial Statements are an integral part hereof.
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