Eversource 2014 Annual Report Download - page 68

Download and view the complete annual report

Please find page 68 of the 2014 Eversource annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 136

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136

56
NORTHEAST UTILITIES AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Years Ended December 31,
(Thousands of Dollars) 2014 2013 2012
Operating Activities:
Net Income
$827,065 $793,689 $533,077
Adjustments to Reconcile Net Income to Net Cash Flows
Provided by Operating Activities:
Depreciation 614,657 610,777 519,010
Deferred Income Taxes 443,259 431,413 292,000
Pension, SERP and PBOP Expense 99,056 195,698 218,540
Pension and PBOP Contributions (211,649)
(342,184)
(295,028)
Regulatory Over/(Under) Recoveries, Net 6,853
(24,276)
(259,853)
Amortization of Regulatory Assets, Net 10,704 206,322 79,762
Amortization of Rate Reduction Bonds -42,581 142,019
Proceeds from DOE Damages Claim, Net 132,138 -
-
Other 39,523 56,071 42,852
Changes in Current Assets and Liabilities:
Receivables and Unbilled Revenues, Net (122,139)
(163,549)
(20,214)
Fuel, Materials and Supplies (41,310)
(14,811)
34,321
Taxes Receivable/Accrued, Net (323,224)
(50,950)
(5,450)
Accounts Payable 144,743
(54,619)
(128,339)
Other Current Assets and Liabilities, Net 15,797
(22,623)
8,532
Net Cash Flows Provided by Operating Activities
1,635,473 1,663,539 1,161,229
Investing Activities:
Investments in Property, Plant and Equipment (1,603,744)
(1,456,787)
(1,472,272)
Proceeds from Sales of Marketable Securities 488,789 627,532 317,294
Purchases of Marketable Securities (491,220)
(679,784)
(348,629)
Other Investing Activities 14,380 67,816 35,683
Net Cash Flows Used in Investing Activities
(1,591,795)
(1,441,223)
(1,467,924)
Financing Activities:
Cash Dividends on Common Shares (475,227)
(462,741)
(375,047)
Cash Dividends on Preferred Stock (7,519)
(7,682)
(7,029)
Increase/(Decrease) in Short-Term Debt 285,075
(397,000)
825,000
Issuance of Long-Term Debt 725,000 1,680,000 850,000
Retirements of Long-Term Debt (576,551)
(929,885)
(839,136)
Retirements of Rate Reduction Bonds -
(82,139)
(114,433)
Other Financing Activities 883
(25,253)
6,529
Net Cash Flows (Used in)/Provided by Financing Activities
(48,339)
(224,700)
345,884
Net (Decrease)/Increase in Cash and Cash Equivalents
(4,661)
(2,384)
39,189
Cash and Cash Equivalents -Beginning of Year 43,364 45,748 6,559
Cash and Cash Equivalents -End of Year $38,703 $43,364 $45,748
The accompanying notes are an integral part of these consolidated financial statements.
The 2014financial statements for CL&P, NSTAR Electric, PSNH and WMECO have been omitted from this report but are set forth in the
Annual Report on Form 10-K for 2014filed with the SEC on a combined basis with NU on February 25, 2015. Such report is also available
at the Investors section at www.eversource.com.