Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions |
9 Months Ended |
Sep. 30, 2016 |
Sep. 30, 2015 |
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
| Net income |
$ 367
|
$ 377
|
| Adjustments to reconcile to net cash flows provided by operating activities: |
|
|
| Depreciation and amortization |
350
|
327
|
| Deferred income taxes and amortization of investment tax credits |
223
|
236
|
| Provision for losses on accounts receivable |
18
|
22
|
| Gain on asset dispositions and purchases |
(8)
|
(2)
|
| Pension and non-pension postretirement benefits |
43
|
46
|
| Other non-cash, net |
(48)
|
(40)
|
| Changes in assets and liabilities: |
|
|
| Receivables and unbilled revenues |
(83)
|
(147)
|
| Pension and non-pension postretirement benefit contributions |
(42)
|
(40)
|
| Accounts payable and accrued liabilities |
184
|
69
|
| Other assets and liabilities, net |
(79)
|
8
|
| Net cash provided by operating activities |
925
|
856
|
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
| Capital expenditures |
(928)
|
(791)
|
| Acquisitions |
(29)
|
(176)
|
| Proceeds from sale of assets and securities |
5
|
5
|
| Removal costs from property, plant and equipment retirements, net |
(62)
|
(74)
|
| Net funds restricted |
|
(9)
|
| Net cash used in investing activities |
(1,014)
|
(1,045)
|
| CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
| Proceeds from long-term debt |
2
|
564
|
| Repayments of long-term debt |
(20)
|
(88)
|
| Proceeds from short-term borrowings with maturities greater than three months |
|
60
|
| Repayments of short-term borrowings with maturities greater than three months |
|
(60)
|
| Net short-term borrowings with maturities less than three months |
322
|
(70)
|
| Proceeds from issuances of employee stock plans and DRIP |
22
|
32
|
| Advances and contributions for construction, net of refunds of $17 and $17, respectively |
16
|
20
|
| Debt issuance costs |
(1)
|
(7)
|
| Dividends paid |
(194)
|
(178)
|
| Anti-dilutive stock repurchase |
(65)
|
(39)
|
| Tax benefit realized from equity compensation |
8
|
7
|
| Net cash provided by financing activities |
90
|
241
|
| Net increase in cash and cash equivalents |
1
|
52
|
| Cash and cash equivalents as of beginning of period |
45
|
23
|
| Cash and cash equivalents as of end of period |
46
|
75
|
| Non-cash investing activity: |
|
|
| Capital expenditures acquired on account but unpaid as of end of period |
$ 182
|
$ 195
|