Atmos Energy 2007 Annual Report Download - page 27

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25
Year Ended September 30
Dollars in thousands 2007 2006 2005
Cash Flows from Operating Activities
Net income $ 168,492 $ 147,737 $ 135,785
Adjustments to reconcile net income to net cash
provided by operating activities:
Impairment of long-lived assets 6,344 22,947 —
Depreciation and amortization:
Charged to depreciation and amortization 198,863 185,596 178,005
Charged to other accounts 192 371 791
Deferred income taxes 62,121 86,178 12,669
Stock-based compensation 11,934 10,234 3,901
Debt financing costs 10,852 11,117 9,258
Other (1,516) (2,871) (1,637)
Changes in assets and liabilities 89,813 (149,860) 48,172
Net cash provided by operating activities 547,095 311,449 386,944
Cash Flows Used in Investing Activities
Capital expenditures (392,435) (425,324) (333,183)
Acquisitions, net of cash received — — (1,916,696)
Other, net (10,436) (5,767) (2,131)
Net cash used in investing activities (402,871) (431,091) (2,252,010)
Cash Flows from Financing Activities
Net increase (decrease) in short-term debt (213,242) 237,607 144,809
Net proceeds from issuance of long-term debt 247,217 — 1,385,847
Settlement of Treasury lock agreements 4,750 — (43,770)
Repayment of long-term debt (303,185) (3,264) (103,425)
Cash dividends paid (111,664) (102,275) (98,978)
Issuance of common stock 24,897 23,273 37,183
Net proceeds from equity offering 191,913 — 381,584
Net cash provided by (used in) financing activities (159,314) 155,341 1,703,250
Net increase (decrease) in cash and cash equivalents (15,090) 35,699 (161,816)
Cash and cash equivalents at beginning of year 75,815 40,116 201,932
Cash and cash equivalents at end of year $ 60,725 $ 75,815 $ 40,116
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS