Atmos Energy 2002 Annual Report Download - page 34

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Year ended September 30 (Dollars in thousands) 2002 2001 2000
Cash Flows from Operating Activities
Net income $59,656 $ 56,090 $ 35,918
Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation and amortization:
Charged to depreciation and amortization 81,469 67,664 63,855
Charged to other accounts 2,452 2,806 3,065
Deferred income taxes 14,509 18,501 18,251
Other (3,371) (979) —
Net assets/liabilities from risk management activities (9,576) 13,881 —
Gain on sale of non-regulated assets ——(5,831)
Changes in assets and liabilities 151,092 (74,968) (61,062)
Net cash provided by operating activities 296,231 82,995 54,196
Cash Flows Used in Investing Activities
Capital expenditures (132,252) (113,109) (75,557)
Acquisitions (15,747) (363,399) (32,000)
Retirements of property, plant and equipment, net (1,725) (1,460) 957
Assets for leasing activities (8,511) (5,377) —
Increase in cash from acquisition —8,644 —
Proceeds from sale of assets, net —6,625 6,467
Net cash used in investing activities (158,235) (468,076) (100,133)
Cash Flows from Financing Activities
Net increase (decrease) in short-term debt (55,456) (48,800) 81,743
Net proceeds from issuance of long-term debt —347,099 —
Repayment of long-term debt (20,651) (17,670) (14,567)
Cash dividends paid (48,646) (44,112) (35,995)
Issuance of common stock 18,321 14,405 13,550
Net proceeds from equity offering —142,043 —
Net cash provided (used) by financing activities (106,432) 392,965 44,731
Net increase (decrease) in cash and cash equivalents 31,564 7,884 (1,206)
Cash and cash equivalents at beginning of year 15,263 7,379 8,585
Cash and cash equivalents at end of year $46,827 $ 15,263 $ 7,379
CONDENSED CONSOLIDATED
STATEMENTS OF CASH FLOWS
30