Eversource 2015 Annual Report Download - page 69

Download and view the complete annual report

Please find page 69 of the 2015 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

57
EVERSOURCE ENERGY AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Years Ended December 31,
(Thousands of Dollars) 2015 2014 2013
Operating Activities:
Net Income
$ 886,004 $ 827,065
$ 793,689
Adjustments to Reconcile Net Income to Net Cash Flows
Provided by Operating Activities:
Depreciation 665,856 614,657
610,777
Deferred Income Taxes 491,736 443,259
431,413
Pension, SERP and PBOP Expense 96,017 99,056
195,698
Pension and PBOP Contributions (162,452)
(211,649)
(342,184)
Regulatory (Under)/Over Recoveries, Net (163,287) 6,853
(24,276)
Amortization of Regulatory Assets, Net 22,339 10,704
206,322
Amortization of Rate Reduction Bonds - -
42,581
(Payments)/Refunds Related to Spent Nuclear Fuel, Net (297,253) 132,138
-
Other (91,945) 39,523
56,071
Changes in Current Assets and Liabilities:
Receivables and Unbilled Revenues, Net (39,797)
(122,139)
(163,549)
Fuel, Materials and Supplies 34,112
(41,310)
(14,811)
Taxes Receivable/Accrued, Net 30,282
(323,224)
(50,950)
Accounts Payable (91,618) 144,743
(54,619)
Other Current Assets and Liabilities, Net 44,031 15,797
(22,623)
Net Cash Flows Provided by Operating Activities
1,424,025 1,635,473
1,663,539
Investing Activities:
Investments in Property, Plant and Equipment (1,724,139)
(1,603,744)
(1,456,787)
Proceeds from Sales of Marketable Securities 799,165 488,789
627,532
Purchases of Marketable Securities (717,114)
(491,220)
(679,784)
Other Investing Activities (17,062) 14,380
67,816
Net Cash Flows Used in Investing Activities
(1,659,150)
(1,591,795)
(1,441,223)
Financing Activities:
Cash Dividends on Common Shares (529,791)
(475,227)
(462,741)
Cash Dividends on Preferred Stock (7,519)
(7,519)
(7,682)
(Decrease)/Increase in Short-Term Debt (242,122) 285,075
(397,000)
Issuance of Long-Term Debt 1,225,000 725,000
1,680,000
Retirements of Long-Term Debt (216,700)
(576,551)
(929,885)
Retirements of Rate Reduction Bonds - -
(82,139)
Other Financing Activities (8,499) 883
(25,253)
Net Cash Flows Provided by/(Used in) Financ
ing Activities 220,369
(48,339)
(224,700)
Net Decrease in Cash and Cash Equivalents
(14,756)
(4,661)
(2,384)
Cash and Cash Equivalents - Beginning of Year 38,703 43,364
45,748
Cash and Cash Equivalents - End of Year $ 23,947 $ 38,703
$ 43,364
The accompanying notes are an integral part of these consolidated financial statements.
The 2015 financial 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 2015 filed with the SEC on a combined basis with Eversource Energy on February 26, 2016. Such report is
also available in the Investors section at www.eversource.com.