ComEd 2015 Annual Report Download - page 227

Table of Contents
PECO Energy Company and Subsidiary Companies
Consolidated Statements of Cash Flows
For the Years Ended
December 31,
(In millions) 2015 2014 2013
Cash flows from operating activities
Net income $ 378 $ 352 $ 395
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation, amortization and accretion 260 236 228
Deferred income taxes and amortization of investment tax credits 90 88 20
Other non-cash operating activities 70 92 108
Changes in assets and liabilities:
Accounts receivable 37 (16) (79)
Receivables from and payables to affiliates, net 3 (6) (18)
Inventories 10 2 2
Accounts payable and accrued expenses (25) 58 31
Income taxes (9) (57) 87
Pension and non-pension postretirement benefit contributions (40) (16) (31)
Other assets and liabilities (4) (21) 4
Net cash flows provided by operating activities 770 712 747
Cash flows from investing activities
Capital expenditures (601) (661) (537)
Change in restricted cash (1) — (2)
Other investing activities 14 12 8
Net cash flows used in investing activities (588) (649) (531)
Cash flows from financing activities
Payment of accounts receivable agreement — — (210)
Issuance of long-term debt 350 300 550
Retirement of long-term debt — (250) (300)
Contributions from parent 16 24 27
Dividends paid on common stock (279) (320) (332)
Dividends paid on preferred securities — — (1)
Redemption of preferred securities — — (93)
Other financing activities (4) (4) (2)
Net cash flows provided by (used in) financing activities 83 (250) (361)
Increase (decrease) in cash and cash equivalents 265 (187) (145)
Cash and cash equivalents at beginning of period 30 217 362
Cash and cash equivalents at end of period $ 295 $ 30 $ 217
See the Combined Notes to Consolidated Financial Statements
220
Source: BALTIMORE GAS & ELECTRIC CO, 10-K, February 10, 2016 Powered by Morningstar® Document Research℠
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