Exelon 2015 Annual Report Download - page 233

Table of Contents
Baltimore Gas and Electric 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 $ 288 $ 211 $ 210
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation, amortization and accretion 366 371 348
Deferred income taxes and amortization of investment tax credits 165 116 125
Other non-cash operating activities 137 180 153
Changes in assets and liabilities:
Accounts receivable 84 46 (127)
Receivables from and payables to affiliates, net (2) (1) (14)
Inventories 18 (6) 1
Accounts payable, accrued expenses (3) (75) (6)
Collateral received (posted), net (27) 27 —
Income taxes (54) 45 (33)
Pension and non-pension postretirement benefit contributions (17) (16) (24)
Other assets and liabilities (173) (158) (72)
Net cash flows provided by operating activities 782 740 561
Cash flows from investing activities
Capital expenditures (719) (620) (587)
Change in restricted cash 26 (22) 2
Other investing activities 18 20 14
Net cash flows used in investing activities (675) (622) (571)
Cash flows from financing activities
Changes in short-term borrowings 90 (15) 135
Issuance of long-term debt — — 300
Retirement of long-term debt (75) (70) (467)
Dividends paid on common stock (158) — —
Dividends paid on preference stock (13) (13) (13)
Allocations of tax benefit from parent 7 — —
Other financing activities (13) 13 (3)
Net cash flows used in financing activities (162) (85) (48)
Increase (decrease) in cash and cash equivalents (55) 33 (58)
Cash and cash equivalents at beginning of period 64 31 89
Cash and cash equivalents at end of period $ 9 $ 64 $ 31
See the Combined Notes to Consolidated Financial Statements
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Source: BALTIMORE GAS & ELECTRIC CO, 10-K, February 10, 2016 Powered by Morningstar® Document Research℠
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