Entergy 2005 Annual Report Download - page 64

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ENTERGY CORPORATION AND SUBSIDIARIES 2005
*
60
CONSOLIDATED STATEMENTS OF CASH FLOWS
In thousands, for the years ended December 31, 2005 2004 2003
OPERATING ACTIVITIES:
Consolidated net income $ 923,758 $ 933,049 $ 950,467
Adjustments to reconcile consolidated net income to net cash flow
provided by operating activities:
Reserve for regulatory adjustments (82,033) 33,533 13,090
Other regulatory credits – net (49,882) (90,611) (13,761)
Depreciation, amortization, and decommissioning 1,001,852 1,045,122 996,603
Deferred income taxes and investment tax credits 626,813 275,458 1,189,531
Cumulative effect of accounting changes – – (137,074)
Equity in earnings (loss) of unconsolidated equity affiliates –
net of dividends 4,315 608,141 (176,036)
Provision for asset impairments
and restructuring charges 39,767 55,000 (7,743)
Changes in working capital:
Receivables (367,351) (210,419) (140,612)
Fuel inventory (83,125) (16,769) (14,015)
Accounts payable 303,194 95,306 (60,164)
Taxes accrued (172,315) 75,055 (882,446)
Interest accrued 15,133 5,269 (35,837)
Deferred fuel (236,801) 213,627 (33,874)
Other working capital accounts (45,653) 41,008 16,809
Provision for estimated losses and reserves (3,704) (18,041) 196,619
Changes in other regulatory assets (311,934) 48,626 22,671
Other (94,226) (164,035) 121,592
Net cash flow provided by operating activities 1,467,808 2,929,319 2,005,820
INVESTING ACTIVITIES:
Construction/capital expenditures (1,458,086) (1,410,610) (1,568,943)
Allowance for equity funds used during construction 45,736 39,582 42,710
Nuclear fuel purchases (314,414) (238,170) (224,308)
Proceeds from sale/leaseback of nuclear fuel 184,403 109,988 150,135
Proceeds from sale of assets and businesses – 75,430 25,987
Payment for purchase of plant (162,075) – –
Investment in non-utility properties – (6,420) (71,438)
Decrease in other investments 9,905 383,498 172,187
Purchases of other temporary investments (1,591,025) (1,629,500) (613,464)
Liquidation of other temporary investments 1,778,975 1,676,350 378,664
Proceeds from nuclear decommissioning trust fund sales 944,253 679,466 729,440
Investment in nuclear decommissioning trust funds (1,039,824) (769,273) (820,958)
Other regulatory investments (390,456) (53,566) (156,446)
Other – – (11,496)
Net cash flow used in investing activities (1,992,608) (1,143,225) (1,967,930)
See Notes to Consolidated Financial Statements.