CenterPoint Energy 2009 Annual Report Download - page 92

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70
CENTERPOINT ENERGY, INC. AND SUBSIDIARIES
STATEMENTS OF CONSOLIDATED CASH FLOWS
Year Ended December 31,
2007 2008 2009
(In millions)
Cash Flows from O
p
eratin
g
Activities:
Net income ..........................................................................................................................................
.
$ 395 $ 446 $ 372
Adjustments to reconcile income from continuing operations to net cash provided by operating
activities:
Depreciation and amortization ......................................................................................................
.
631 708 743
Amortization of deferred financing costs ......................................................................................
.
69 29 37
Deferred income taxes ..................................................................................................................
.
—
487 269
Unrealized loss (gain) on marketable securities ............................................................................
.
114 139 (82)
Unrealized loss (gain) on indexed debt securities .........................................................................
.
(111) (128) 68
Write-down of natural gas inventory ............................................................................................
.
11 30 6
Equity in earnings of unconsolidated affiliates, net of distributions .............................................
.
(13) (51) (3)
Changes in other assets and liabilities:
Accounts receivable and unbilled revenues, net.....................................................................
.
—
(82) 283
Inventory ................................................................................................................................
.
(102) (109) 236
Accounts payable ...................................................................................................................
.
(185) 87 (237)
Fuel cost over (under) recovery .............................................................................................
.
(93) 45 (5)
Non-trading derivatives, net ...................................................................................................
.
11 (25) 28
Margin deposits, net ...............................................................................................................
.
65 (182) 116
Interest and taxes accrue
d
......................................................................................................
.
(33) (118) (41)
Net regulatory assets and liabilities ........................................................................................
.
81 (366)
—
Other current assets ................................................................................................................
.
13 (27) 27
Other current liabilities ..........................................................................................................
.
(20) 29 6
Other assets ............................................................................................................................
.
(20) (20) (1)
Other liabilities ......................................................................................................................
.
(51) (8) 3
Other, net ......................................................................................................................................
.
12 (33) 16
Net cash provided by operating activities..................................................................
.
774 851 1,841
Cash Flows from Investin
g
Activities:
Capital expenditures ............................................................................................................................
.
(1,114) (1,020) (1,160)
Decrease (increase) in restricted cash of transition and system restoration
b
ond companies..............
.
(1) (11) 26
Decrease (increase) in notes receivable from unconsolidated affiliates ..............................................
.
(148) (175) 323
Investment in unconsolidated affiliates ...............................................................................................
.
(39) (206) (115)
Other, net ............................................................................................................................................
.
2 44 30
Net cash used in investing activities..........................................................................
.
(1,300) (1,368) (896)
Cash Flows from Financin
g
Activities:
Increase (decrease) in short-term borrowings, net ...............................................................................
.
45 (79) (98)
Revolving credit facilities, net ............................................................................................................
.
331 1,110 (1,441)
Proceeds from long-term debt .............................................................................................................
.
900 1,088 1,165
Payments of long-term debt ................................................................................................................
.
(548) (1,373) (222)
Debt issuance costs .............................................................................................................................
.
(9) (26) (10)
Payment of common stock dividends ..................................................................................................
.
(218) (246) (276)
Proceeds from issuance of common stock, net ....................................................................................
.
22 80 504
Other, net ............................................................................................................................................
.
5 1 6
Net cash provided by (used in) financing activities...................................................
.
528 555 (372)
Net Increase in Cash and Cash E
q
uivalents ..........................................................................................
.
2 38 573
Cash and Cash E
q
uivalents at Be
g
innin
g
of Year .................................................................................
.
127 129 167
Cash and Cash E
q
uivalents at End of Year ...........................................................................................
.
$ 129 $ 167 $ 740
Su
pp
lemental Disclosure of Cash Flow Information:
Cash Payments:
Interest, net of capitalized interest ................................................................................................
.
$ 572 $ 586 $ 624
Income taxes (refunds), net ...........................................................................................................
.
205 (84) (9)
Non-cash transactions:
Accounts payable related to capital expenditures .........................................................................
.
75 96 84
See Notes to CenterPoint Energy’s Consolidated Financial Statements