OG&E 2015 Annual Report Download - page 19

OGE Energy Corp. 35
Consolidated Statements of Cash Flows
Year฀ended฀December฀31฀(In฀millions)฀฀2015฀ 2014฀ 2013
Cash Flows from Operating Activities
Net฀income฀ $ 271.3฀ $฀ 395.8฀ $฀ 393.8
Adjustments฀to฀reconcile฀net฀income฀to฀net฀cash฀provided฀from฀operating฀activities
Depreciation฀and฀amortization฀฀ 307.9฀ 281.4฀ 298.6
Deferred฀income฀taxes฀and฀investment฀tax฀credits฀ 102.6฀ 177.3฀ 125.9
Equity฀in฀earnings฀of฀unconsolidated฀affiliate ฀ (15.5)฀ (172.6)฀ (101.9)
Distributions฀from฀unconsolidated฀affiliate ฀ 94.1฀ 143.7฀ 51.7
Allowance฀for฀equity฀funds฀used฀during฀construction฀ (8.3)฀ (4.2)฀ (6.6)฀
Gain฀on฀disposition฀of฀assets฀ (0.2)฀ (0.2)฀ (8.6)
Stock-based฀compensation฀ 5.9฀ (2.7)฀ (3.5)
Regulatory฀assets฀฀ (9.1)฀ 4.5฀ 26.7
Regulatory฀liabilities฀ (27.5)฀ (4.4)฀ (32.5)฀
Other฀assets฀ 10.6฀ (16.3)฀ 1.3฀
Other฀liabilities฀ 8.6฀ 29.6฀ (7.0)฀
Change฀in฀certain฀current฀assets฀and฀liabilities
Accounts฀receivable,฀net฀ 15.7฀ (9.4)฀ (34.0)
Accounts฀receivable฀–฀unconsolidated฀affiliate ฀ 3.9฀ 6.8฀ 3.7
Accrued฀unbilled฀revenues฀ 2.0฀ 3.2฀ (1.3)
Income฀taxes฀receivable฀฀ (1.2)฀ (10.4)฀ 1.6
Fuel,฀materials฀and฀supplies฀inventories฀ (56.5)฀ 20.4฀ 5.1
Fuel฀clause฀under฀recoveries฀ 68.3฀ (42.1)฀ (26.2)
Other฀current฀assets฀ (17.2)฀ (2.6)฀ (4.4)฀
Accounts฀payable฀฀ 30.9฀ (64.0)฀ 56.9
Fuel฀clause฀over฀recoveries฀ 61.3฀ (0.4)฀ (108.8)
Other฀current฀liabilities฀ 17.8฀ (11.8)฀ (7.3)
฀ ฀ ฀ Net฀Cash฀Provided฀from฀Operating฀Activities฀ 865.4฀ 721.6฀ 623.2
Cash Flows from Investing Activities
Capital฀expenditures฀(less฀allowance฀for฀equity฀funds฀used฀during฀construction)฀ (547.8)฀ (569.3)฀ (990.6)฀
Return฀of฀capital฀–฀equity฀method฀investments฀ 45.2฀ 9.5฀ —
Proceeds฀from฀sale฀of฀assets฀ 2.5฀ 0.7฀ 36.3
Investment฀in฀unconsolidated฀affiliate ฀ —฀ —฀ (2.7)
฀ ฀ ฀ Net฀Cash฀Used฀in฀Investing฀Activities฀฀ (500.1)฀ (559.1)฀ (957.0)฀
Cash Flows from Financing Activities
Proceeds฀from฀long-term฀debt฀ —฀ 588.9฀ 247.4
Issuance฀of฀common฀stock฀ 7.2฀ 13.2฀ 14.2
Dividends฀paid฀on฀common฀stock฀ (204.6)฀ (184.1)฀ (165.5)฀
Payment฀of฀long-term฀debt฀ (0.2)฀ (240.2)฀ (0.1)฀
(Decrease)฀increase฀in฀short-term฀debt฀฀ (98.0)฀ (341.6)฀ 8.7
Changes฀in฀advances฀with฀unconsolidated฀affiliate ฀ —฀ —฀ 129.6
Contributions฀from฀noncontrolling฀interest฀partners฀ —฀ —฀ 107.0
Distributions฀to฀noncontrolling฀interest฀partners฀ —฀ —฀ (2.5)฀
฀ ฀ ฀ Net฀Cash฀(Used฀in)฀Provided฀from฀Financing฀Activities฀฀ (295.6)฀ (163.8)฀ 338.8
Net Change in Cash and Cash Equivalents฀69.7฀ (1.3)฀ 5.0฀
Cash and Cash Equivalents at Beginning of Period฀5.5฀ 6.8฀ 1.8
Cash and Cash Equivalents at End of Period ฀$ 75.2฀ $฀ ฀ ฀ 5.5฀ $฀ ฀ ฀ 6.8
The฀accompanying฀Notes฀to฀Consolidated฀Financial฀Statements฀are฀an฀integral฀part฀hereof.
3 4 OGE Energy Corp.
Consolidated Statements of Comprehensive Income
Year฀ended฀December฀31฀(In฀millions)฀฀2015฀ 2014฀฀ 2013
Net income ฀$271.3฀ $395.8฀ $393.8
Other฀comprehensive฀income฀(loss),฀net฀of฀tax
฀ Pension฀Plan฀and฀Restoration฀Income฀Plan:
฀ ฀ Amortization฀of฀deferred฀net฀loss,฀net฀of฀tax฀of฀$2.2,฀$1.2,฀and฀$2.4,฀respectively฀฀ 2.5฀ 1.8฀ 3.7
฀ ฀ Net฀gain฀(loss)฀arising฀during฀the฀period,฀net฀of฀tax฀of฀($5.8),฀($7.0),฀and฀$7.8,฀respectively฀฀ (9.5)฀ (11.1)฀ 12.4฀฀
฀ ฀ Settlement฀(Curtailment)฀cost,฀net฀of฀tax฀of฀$2.9,฀($0.1)฀and฀$1.9,฀respectively฀฀ 4.6฀ (0.1)฀ 3.0฀
฀ Postretirement฀Benefit฀Plans
฀ ฀ Amortization฀of฀deferred฀net฀loss,฀net฀of฀tax฀of฀$0.8,฀$0.5,฀and฀$1.3,฀respectively฀฀ 1.2฀ 0.9฀ 2.0
฀ ฀ Net฀gain฀(loss)฀arising฀during฀the฀period,฀net฀of฀tax฀of฀$5.6,฀($1.9),฀and฀$4.4,฀respectively฀฀ 9.3฀ (3.1)฀ 6.9฀฀
฀ ฀ Amortization฀of฀prior฀service฀cost,฀net฀of฀tax฀of฀($1.1),฀($1.1),฀and฀($1.1),฀respectively฀฀ (1.8)฀ (1.8)฀ (1.8)฀฀
฀ Deferred฀commodity฀contracts฀hedging฀losses฀reclassified฀in฀net฀incom ,฀net฀of฀tax฀of
฀ ฀ $0,฀$0,฀and฀$0.4,฀respectively฀฀ —฀ —฀ 0.6฀฀
฀ Amortization฀of฀deferred฀interest฀rate฀swap฀hedging฀losses,฀net฀of฀tax฀of฀$0,฀$0.1
฀ ฀ and฀$0.1,฀respectively฀฀ —฀ 0.2฀ 0.3
฀ ฀ Other฀comprehensive฀income฀(loss),฀net฀of฀tax฀฀ 6.3฀ (13.2)฀ 27.1฀฀
฀ ฀ ฀ Comprehensive฀income฀฀ 277.6฀ 382.6฀ 420.9
Less:฀Comprehensive฀income฀attributable฀to฀noncontrolling฀interest฀฀ —฀ —฀ 6.3฀
Less:฀Deconsolidation฀of฀Enogex฀Holdings฀฀ —฀ —฀ 6.1฀
฀ Total฀comprehensive฀income฀attributable฀to฀OGE฀Energy฀฀ $277.6฀ $382.6฀ $408.5
The฀accompanying฀Notes฀to฀Consolidated฀Financial฀Statements฀are฀an฀integral฀part฀hereof.