Atmos Energy 2012 Annual Report Download - page 27

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Year Ended September 30
Dollars in thousands 2012 2011 2010
Cash Flows from Operating Activities
Net income $ 216,717 $ 207,601 $ 205,839
Adjustments to reconcile net income to net cash
provided by operating activities:
Asset impairments 5,288 30,270 —
Gain on sale of discontinued operations (9,868) — —
Depreciation and amortization:
Charged to depreciation and amortization 246,093 233,155 216,960
Charged to other accounts 484 228 173
Deferred income taxes 104,319 117,353 196,731
Stock-based compensation 19,222 11,586 12,655
Debt financing costs 8,147 9,438 11,908
Other (493) (961) (1,245)
Changes in assets and liabilities (2,992) (25,826) 83,455
Net cash provided by operating activities 586,917 582,844 726,476
Cash Flows Used in Investing Activities
Capital expenditures (732,858) (622,965) (542,636)
Proceeds from the sale of discontinued operations 128,223 — —
Other, net (4,625) (4,421) (66)
Net cash used in investing activities (609,260) (627,386) (542,702)
Cash Flows from Financing Activities
Net increase in short-term debt 354,141 83,306 54,268
Net proceeds from issuance of long-term debt — 394,466 —
Settlement of Treasury lock agreements — 20,079 —
Unwinding of Treasury lock agreements — 27,803 —
Repayment of long-term debt (257,034) (360,131) (131)
Cash dividends paid (125,796) (124,011) (124,287)
Repurchase of common stock (12,535) — (100,450)
Repurchase of equity awards (5,219) (5,299) (1,191)
Issuance of common stock 1,606 7,796 8,766
Net cash provided by (used in) financing activities (44,837) 44,009 (163,025)
Net increase (decrease) in cash and cash equivalents (67,180) (533) 20,749
Cash and cash equivalents at beginning of year 131,419 131,952 111,203
Cash and cash equivalents at end of year $ 64,239 $ 131,419 $ 131,952
Condensed Consolidated Statements of Cash Flows
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ATMOS ENERGY 2012 SUMMARY ANNUAL REPORT