Atmos Energy 2014 Annual Report Download - page 27

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25
Condensed Consolidated Statements of Cash Flows
Year Ended September 30 — Dollars in thousands 2014 2013 2012
Cash Flows from Operating Activities
Net income $ 289,817 $ 243,194 $ 216,717
Adjustments to reconcile net income to net cash
provided by operating activities:
Asset impairments — — 5,288
Gain on sale of discontinued operations — (8,203) (9,868)
Depreciation and amortization:
Charged to depreciation and amortization 253,987 236,928 246,093
Charged to other accounts 969 679 484
Deferred income taxes 189,952 141,336 104,319
Stock-based compensation 25,531 17,814 19,222
Debt nancing costs 9,409 8,480 8,147
Other (428) (2,887) (493)
Changes in assets and liabilities (29,251) (24,214) (2,992)
Net cash provided by operating activities 739,986 613,127 586,917
Cash Flows Used in Investing Activities
Capital expenditures (835,251) (845,033) (732,858)
Proceeds from the sale of discontinued operations — 153,023 128,223
Other, net (2,325) (4,904) (4,625)
Net cash used in investing activities (837,576) (696,914) (609,260)
Cash Flows from Financing Activities
Net increase (decrease) in short-term debt (165,865) (208,070) 354,141
Net proceeds from issuance of long-term debt — 493,793 —
Net proceeds from equity oering 390,205 — —
Settlement of Treasury lock agreements — (66,626) —
Repayment of long-term debt — (131) (257,034)
Cash dividends paid (146,248) (128,115) (125,796)
Repurchase of common stock — — (12,535)
Repurchase of equity awards (8,717) (5,150) (5,219)
Issuance of common stock 4,274 46 1,606
Net cash provided by (used in) nancing activities 73,649 85,747 (44,837)
Net increase (decrease) in cash and cash equivalents (23,941) 1,960 (67,180)
Cash and cash equivalents at beginning of year 66,199 64,239 131,419
Cash and cash equivalents at end of year $ 42,258 $ 66,199 $ 64,239