PG&E 2010 Annual Report Download - page 62

Download and view the complete annual report

Please find page 62 of the 2010 PG&E annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 128

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128

CONSOLIDATED STATEMENTS OF CASH FLOWS
PG&E Corporation
Year ended December 31,
(in millions) 2010 2009 2008
Cash Flows from Operating Activities
Net income $ 1,113 $ 1,234 $ 1,352
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization, and decommissioning 2,151 1,947 1,863
Allowance for equity funds used during construction (110) (94) (70)
Deferred income taxes and tax credits, net 756 809 590
Other 47 (26) (6)
Effect of changes in operating assets and liabilities:
Accounts receivable (44) 156 (87)
Inventories (43) 109 (59)
Accounts payable 48 (40) (140)
Disputed claims and customer refunds – (700) –
Income taxes receivable/payable (78) 171 (59)
Other current assets (9) 122 (185)
Other current liabilities 120 172 90
Regulatory assets, liabilities, and balancing accounts, net (394) (516) (374)
Other changes in noncurrent assets and liabilities (351) (305) (152)
Net cash provided by operating activities 3,206 3,039 2,763
Cash Flows from Investing Activities
Capital expenditures (3,802) (3,958) (3,628)
Decrease in restricted cash 66 666 36
Proceeds from sales and maturities of nuclear decommissioning trust investments 1,405 1,351 1,635
Purchases of nuclear decommissioning trust investments (1,456) (1,414) (1,684)
Other (70) 19 (11)
Net cash used in investing activities (3,857) (3,336) (3,652)
Cash Flows from Financing Activities
Borrowings under revolving credit facilities 490 300 533
Repayments under revolving credit facilities (490) (300) (783)
Net issuances of commercial paper, net of discount of $3 in 2010 and 2009, and $11 in 2008 267 43 6
Proceeds from issuance of short-term debt, net of issuance costs of $1 in 2010 and 2009 249 499 –
Proceeds from issuance of long-term debt, net of premium, discount, and issuance costs of $23 in
2010, $29 in 2009, and $19 in 2008 1,327 1,730 2,185
Short-term debt matured (500) ––
Long-term debt matured or repurchased (95) (909) (454)
Energy recovery bonds matured (386) (370) (354)
Common stock issued 303 219 225
Common stock dividends paid (662) (590) (546)
Other (88) (17) (49)
Net cash provided by financing activities 415 605 763
Net change in cash and cash equivalents (236) 308 (126)
Cash and cash equivalents at January 1 527 219 345
Cash and cash equivalents at December 31 $ 291 $ 527 $ 219
Supplemental disclosures of cash flow information
Cash received (paid) for:
Interest, net of amounts capitalized $ (627) $ (612) $ (523)
Income taxes, net (135) 359 112
Supplemental disclosures of noncash investing and financing activities
Common stock dividends declared but not yet paid $ 183 $ 157 $ 143
Capital expenditures financed through accounts payable 364 273 348
Noncash common stock issuances 265 50 22
See accompanying Notes to the Consolidated Financial Statements.
58