Atmos Energy 2011 Annual Report Download - page 21

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Year Ended September 30
Dollars in thousands 2011 2010 2009
Cash Flows from Operating Activities
Net income $ 207,601 $ 205,839 $ 190,978
Adjustments to reconcile net income to net cash
provided by operating activities:
Asset impairments 30,270 — 5,382
Depreciation and amortization:
Charged to depreciation and amortization 233,155 216,960 217,208
Charged to other accounts 228 173 94
Deferred income taxes 117,353 196,731 129,759
Stock-based compensation 11,586 12,655 14,494
Debt financing costs 9,438 11,908 10,364
Other (961) (1,245) (1,177)
Changes in assets and liabilities (25,826) 83,455 352,131
Net cash provided by operating activities 582,844 726,476 919,233
Cash Flows Used in Investing Activities
Capital expenditures (622,965) (542,636) (509,494)
Other, net (4,421) (66) (7,707)
Net cash used in investing activities (627,386) (542,702) (517,201)
Cash Flows from Financing Activities
Net increase (decrease) in short-term debt 83,306 54,268 (283,981)
Net proceeds from issuance of long-term debt 394,466 — 445,623
Settlement of Treasury lock agreements 20,079 — 1,938
Unwinding of Treasury lock agreements 27,803 — —
Repayment of long-term debt (360,131) (131) (407,353)
Cash dividends paid (124,011) (124,287) (121,460)
Repurchase of common stock — (100,450) —
Repurchase of equity awards (5,299) (1,191) —
Issuance of common stock 7,796 8,766 27,687
Net cash provided by (used in) financing activities 44,009 (163,025) (337,546)
Net increase (decrease) in cash and cash equivalents (533) 20,749 64,486
Cash and cash equivalents at beginning of year 131,952 111,203 46,717
Cash and cash equivalents at end of year $ 131,419 $ 131,952 $ 111,203
Condensed Consolidated Statements of Cash Flows
ATMOS ENERGY 2011 SUMMARY ANNUAL REPORT 29