Entergy 2004 Annual Report Download - page 54

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-52 -
Entergy Corporation and Subsidiaries 2004
In thousands, for the years ended December 31, 2004 2003 2002
OPERATING ACTIVITIES:
Consolidated net income $ 933,049 $ 950,467 $ 623,072
Adjustments to reconcile consolidated net income to net cash flow
provided by operating activities:
Reserve for regulatory adjustments 33,533 13,090 18,848
Other regulatory credits – net (90,611) (13,761) (141,836)
Depreciation, amortization, and decommissioning 1,045,122 996,603 915,597
Deferred income taxes and investment tax credits 275,458 1,189,531 (256,664)
Cumulative effect of accounting changes – (137,074) –
Equity in earnings (loss) of unconsolidated equity affiliates –
net of dividends 608,141 (176,036) (181,878)
Provision for turbine commitments,
asset impairments, and restructuring charges 55,000 (7,743) 428,456
Changes in working capital:
Receivables (210,419) (140,612) (43,957)
Fuel inventory (16,769) (14,015) 1,030
Accounts payable 95,306 (60,164) 286,230
Taxes accrued 75,055 (882,446) 462,956
Interest accrued 5,269 (35,837) 7,209
Deferred fuel 213,627 (33,874) 156,181
Other working capital accounts 41,008 16,809 (286,232)
Provision for estimated losses and reserves (18,041) 196,619 10,533
Changes in other regulatoryassets 48,626 22,671 71,132
Other (164,035) 121,592 111,026
Net cash flow provided by operating activities 2,929,319 2,005,820 2,181,703
INVESTING ACTIVITIES:
Construction/capital expenditures (1,410,610) (1,568,943) (1,530,301)
Allowance for equity funds used during construction 39,582 42,710 31,658
Nuclear fuel purchases (238,170) (224,308) (250,309)
Proceeds from sale/leaseback of nuclear fuel 109,988 150,135 183,664
Proceeds from sale of assets and businesses 75,430 25,987 215,088
Investment in non-utility properties (6,420) (71,438) (216,956)
Decrease in other investments 383,498 172,187 38,964
Changes in other temporary investments 50,000 (50,000) 150,000
Decommissioning trust contributions and realized change in trust assets (89,807) (91,518) (84,914)
Other regulatory investments (53,566) (156,446) (39,390)
Other – (11,496) 114,033
Net cash flow used in investing activities (1,140,075) (1,783,130) (1,388,463)
See Notes to Consolidated Financial Statements.
CONSOLIDATED STATEMENTS OF CASH FLOWS