CenterPoint Energy 2013 Annual Report Download - page 97

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75
CENTERPOINT ENERGY, INC. AND SUBSIDIARIES
STATEMENTS OF CONSOLIDATED CASH FLOWS
Year Ended December 31,
2013 2012 2011
(in millions)
Cash Flows from Operating Activities:
Net income ......................................................................................................................................................... $ 311 $ 417 $ 1,357
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization ........................................................................................................................ 954 1,050 886
Amortization of deferred financing costs........................................................................................................ 30 32 30
Deferred income taxes..................................................................................................................................... 356 328 443
Extraordinary item, net of tax.......................................................................................................................... — — (587)
Return on true-up balance ............................................................................................................................... — — (352)
Goodwill impairment ...................................................................................................................................... — 252 —
Step acquisition gain ....................................................................................................................................... — (136) —
Unrealized gain on marketable securities........................................................................................................ (236) (154) (19)
Unrealized loss (gain) on indexed debt securities ........................................................................................... 193 71 (35)
Write-down of natural gas inventory............................................................................................................... 4 4 11
Equity in earnings of unconsolidated affiliates, net of distributions............................................................... (58) 8 8
Pension contributions ...................................................................................................................................... (91) (82) (75)
Changes in other assets and liabilities:
Accounts receivable and unbilled revenues, net .................................................................................... (256) 10 40
Inventory ................................................................................................................................................ (22) 27 11
Taxes receivable ..................................................................................................................................... 7 (7) 138
Accounts payable ................................................................................................................................... 152 (6) (81)
Fuel cost recovery .................................................................................................................................. 108 (52) (70)
Non-trading derivatives, net ................................................................................................................... 4 20 (13)
Margin deposits, net ............................................................................................................................... 16 53 34
Interest and taxes accrued....................................................................................................................... 41 (62) 44
Net regulatory assets and liabilities........................................................................................................ 61 66 31
Other current assets ................................................................................................................................ (2) (12) 12
Other current liabilities........................................................................................................................... 21 18 18
Other assets............................................................................................................................................. (24) (18) (9)
Other liabilities ....................................................................................................................................... 20 16 42
Other, net ......................................................................................................................................................... 24 17 24
Net cash provided by operating activities ........................................................................................ 1,613 1,860 1,888
Cash Flows from Investing Activities:
Capital expenditures, net of acquisitions............................................................................................................ (1,286) (1,212) (1,303)
Acquisitions, net of cash acquired...................................................................................................................... — (360) —
Decrease (increase) in restricted cash of transition and system restoration bond companies............................ 17 (13) (3)
Investment in unconsolidated affiliates.............................................................................................................. — (5) (12)
Cash contribution to Enable ............................................................................................................................... (38) — —
Cash received from U.S. Department of Energy grant....................................................................................... — — 110
Proceeds from sale of marketable securities ...................................................................................................... 9 — —
Other, net ............................................................................................................................................................ (2) (13) 2
Net cash used in investing activities................................................................................................. (1,300) (1,603) (1,206)
Cash Flows from Financing Activities:
Increase (decrease) in short-term borrowings, net ............................................................................................. 5 (24) 9
Proceeds from (payments of) commercial paper, net......................................................................................... 118 (285) 102
Proceeds from long-term debt ............................................................................................................................ 1,050 2,495 550
Payments of long-term debt ............................................................................................................................... (1,573) (1,590) (909)
Cash paid for debt exchange and debt retirement .............................................................................................. (7) (69) (58)
Debt issuance costs............................................................................................................................................. (3) (16) (24)
Redemption of indexed debt securities .............................................................................................................. (8) — —
Payment of common stock dividends................................................................................................................. (355) (346) (337)
Proceeds from issuance of common stock, net................................................................................................... 4 4 6
Other, net ............................................................................................................................................................ 18 — —
Net cash provided by (used in) financing activities ......................................................................... (751) 169 (661)
Net Increase (Decrease) in Cash and Cash Equivalents ........................................................................................ (438) 426 21
Cash and Cash Equivalents at Beginning of Year.................................................................................................. 646 220 199
Cash and Cash Equivalents at End of Year............................................................................................................ $ 208 $ 646 $ 220
See Notes to Consolidated Financial Statements