Atmos Energy 2013 Annual Report Download - page 27

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Condensed Consolidated Statements of Cash Flows
Year Ended September 30 — Dollars in thousands 2013 2012 2011
Cash Flows from Operating Activities
Net income $ 243,194 $ 216,717 $ 207,601
Adjustments to reconcile net income to net cash
provided by operating activities:
Asset impairments — 5,288 30,270
Gain on sale of discontinued operations (8,203) (9,868) —
Depreciation and amortization:
Charged to depreciation and amortization 236,928 246,093 233,155
Charged to other accounts 679 484 228
Deferred income taxes 141,336 104,319 117,353
Stock-based compensation 17,814 19,222 11,586
Debt financing costs 8,480 8,147 9,438
Other
(2,887) (493) (961)
Changes in assets and liabilities (24,214) (2,992) (25,826)
Net cash provided by operating activities 613,127 586,917 582,844
Cash Flows Used in Investing Activities
Capital expenditures (845,033) (732,858) (622,965)
Proceeds from the sale of discontinued operations 153,023 128,223 —
Other, net (4,904) (4,625) (4,421)
Net cash used in investing activities (696,914) (609,260) (627,386)
Cash Flows from Financing Activities
Net increase (decrease) in short-term debt (208,070) 354,141 83,306
Net proceeds from issuance of long-term debt 493,793 — 394,466
Settlement of Treasury lock agreements (66,626) — 20,079
Unwinding of Treasury lock agreements — — 27,803
Repayment of long-term debt (131) (257,034) (360,131)
Cash dividends paid (128,115) (125,796) (124,011)
Repurchase of common stock — (12,535) —
Repurchase of equity awards (5,150) (5,219) (5,299)
Issuance of common stock 46 1,606 7,796
Net cash provided by (used in) financing activities 85,747 (44,837) 44,009
Net increase (decrease) in cash and cash equivalents 1,960 (67,180) (533)
Cash and cash equivalents at beginning of year 64,239 131,419 131,952
Cash and cash equivalents at end of year $ 66,199 $ 64,239 $ 131,419
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