CenterPoint Energy 2014 Annual Report Download - page 63

Cash Used in Investing Activities
Net cash used in investing activities increased $84 million in 2014 compared to 2013 primarily due to increased capital expenditures (
$86
million ), increased restricted cash ( $24 million ) and decreased proceeds from sale of marketable securities ( $9 million
), which were partially
offset by decreased cash contributed to Enable ( $38 million ).
Net cash used in investing activities decreased $303 million in 2013 compared to 2012 due to decreased cash paid for acquisitions ($360
million) and decreased restricted cash ($30 million) and increased proceeds from sale of marketable securities ($9 million), which were partially
offset by increased capital expenditures ($74 million) and cash contributed to Enable ($38 million).
Cash Provided by (Used in) Financing Activities
Net cash provided by financing activities increased $828 million in 2014 compared to 2013 primarily due to decreased payments of long-
term debt ( $1,036 million ) and increased proceeds from commercial paper ( $296 million
), which were partially offset by decreased proceeds
from long-term debt ( $450 million ) and increased payments of common stock dividends ( $53 million ).
Net cash used in financing activities increased $920 million in 2013 compared to 2012 primarily due to decreased proceeds from long-
term
debt ($1,445 million) and increased payments of common stock dividends ($9 million), which were partially offset by increased proceeds from
commercial paper ($403 million), decreased cash paid for debt retirement ($62 million), increased short-
term borrowings ($29 million),
decreased payments of long-term debt ($17 million) and decreased debt issuance costs ($13 million).
Future Sources and Uses of Cash
Our liquidity and capital requirements are affected primarily by our results of operations, capital expenditures, debt service requirements,
tax payments, working capital needs and various regulatory actions. Our principal anticipated cash requirements for 2015 include the following:
We expect that anticipated 2015 cash needs will be met with borrowings under our credit facilities, proceeds from commercial paper,
proceeds from the issuance of general mortgage bonds and senior unsecured notes, anticipated cash flows from operations, a tax refund relating
to 2014 bonus depreciation and distributions from Enable. Discretionary financing or refinancing may result in the issuance of equity or debt
securities in the capital markets or the arrangement of additional credit facilities. Issuances of equity or debt in the capital markets and additional
credit facilities may not, however, be available to us on acceptable terms.
The following table sets forth our capital expenditures for 2014
and estimates of our capital expenditures for currently identified or planned
projects for 2015 through 2019 (in millions):
56
•
capital expenditures of approximately $1.5 billion;
•
scheduled principal payments on transition and system restoration bonds of $372 million;
•
maturing senior notes and pollution control bonds aggregating $269 million;
• contributions aggregating approximately $66 million to qualified and non-
qualified pension plans; and
•
dividend payments on CenterPoint Energy common stock and interest payments on debt.
2014
2015 2016 2017 2018 2019
Electric Transmission & Distribution
$
818
$
913
$
874
$
879
$
881
$
831
Natural Gas Distribution
525
559
544
545
550
546
Energy Services
3
10
32
9
9
19
Other Operations
56
40
41
44
54
53
Total
$
1,402
$
1,522
$
1,491
$
1,477
$
1,494
$
1,449