OG&E 2010 Annual Report Download - page 55

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OKLAHOMA GAS AND ELECTRIC COMPANY
STATEMENTS OF CASH FLOWS
Year ended December 31 (In millions) 2010 2009 2008
CASH FLOWS FROM OPERATING ACTIVITIES
Net income $ 215.7 $ 200.4 $ 143.0
Adjustments to reconcile net income to net cash provided from
operating activities
Depreciation and amortization 208.7 187.7 155.0
Deferred income taxes and investment tax credits, net 118.8 202.8 87.2
Allowance for equity funds used during construction (11.4) (15.1) ---
Write-down of regulatory assets --- --- 9.2
Price risk management liabilities --- 0.7 (1.7)
Regulatory assets 24.1 20.2 13.0
Regulatory liabilities (12.4) (17.5) (21.9)
Other assets 4.8 2.4 (11.4)
Other liabilities (55.8) (55.3) (8.1)
Change in certain current assets and liabilities
Accounts receivable, net 3.6 26.3 (37.3)
Accrued unbilled revenues 0.4 (10.2) (1.3)
Fuel, materials and supplies inventories (37.5) (50.5) (19.8)
Gas imbalance assets --- 0.5 (0.5)
Fuel clause under recoveries (0.7) 23.7 3.3
Other current assets (5.2) (4.8) (2.3)
Accounts payable 41.4 (2.4) (59.3)
Accounts payable - affiliates (0.2) (1.8) (4.1)
Income taxes payable - affiliates 106.6 (112.1) (64.2)
Fuel clause over recoveries (157.6) 178.9 4.4
Other current liabilities 22.4 6.3 23.2
Net Cash Provided from Operating Activities 465.7 580.2 206.4
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures (less allowance for equity funds used during
construction) (603.4) (600.5) (840.1)
Proceeds from sale of assets 1.3 1.0 0.5
Net Cash Used in Investing Activities (602.1) (599.5) (839.6)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from long-term debt 246.2 0.1 743.0
Decrease in short-term debt --- (31.5) (267.0)
Capital contribution from OGE Energy --- --- 293.0
Retirement of long-term debt --- --- (50.1)
Changes in advances with parent (49.6) --- ---
Dividends paid on common stock (60.2) --- (35.0)
Net Cash Provided from (Used in) Financing Activities 136.4 (31.4) 683.9
NET CHANGE IN CASH AND CASH EQUIVALENTS --- (50.7) 50.7
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD --- 50.7 ---
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ --- $ --- $ 50.7
The accompanying Notes to Financial Statements are an integral part hereof.
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