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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:      
NET INCOME $ 1,176 $ 439 $ 1,283
Adjustments to reconcile net income to net cash from operating activities-      
Depreciation, amortization and impairments 1,280 1,317 1,664
Employee benefit costs, net (9) (279) (300)
Pension and OPEB mark-to-market adjustments 78 (72) (382)
Deferred income taxes and investment tax credits, net 252 989 297
Transmission revenue collections, net (180) 79 182
Gain on sale of Yards Creek 0 0 (109)
Pension trust contribution (750) 0 0
Loss (gain) on disposal, net of tax (Note 16) 21 0 (47)
Changes in current assets and liabilities-      
Receivables (13) (292) 160
Materials and supplies (91) (161) 57
Prepaid taxes and other current assets (43) (28) 18
Accounts payable (141) 560 117
Accrued taxes 32 22 7
Accrued interest 38 (29) 0
Other current liabilities 41 21 (52)
Cash collateral, net (218) 111 31
Employee benefit plan funding and related payments (50) (49) (48)
Other (36) 55 (67)
Net cash provided from operating activities 1,387 2,683 2,811
CASH FLOWS FROM INVESTING ACTIVITIES:      
Capital investments (3,356) (2,848) (2,487)
Proceeds from sale of Yards Creek 0 0 155
Sales of investment securities held in trusts 38 48 48
Purchases of investment securities held in trusts (50) (59) (59)
Asset removal costs (274) (213) (226)
Other (10) (4) 10
Net cash used for investing activities (3,652) (3,076) (2,559)
New financing-      
Long-term debt 3,150 700 2,100
Short-term borrowings, net 675 100 0
Common stock issuance 0 0 1,000
Redemptions and repayments-      
Long-term debt (537) (3,005) (532)
Short-term borrowings, net 0 0 (2,200)
Proceeds from FET minority interest sale, net of transaction costs 0 2,348 0
Distributions to FET minority interest (72) (21) 0
Capital contributions from FET minority interest 0 9 0
Common stock dividend payments (906) (891) (849)
Other (72) (152) (61)
Net cash provided from (used for) financing activities 2,238 (912) (542)
Net change in cash, cash equivalents and restricted cash (27) (1,305) (290)
Cash, cash equivalents, and restricted cash at beginning of period 206 1,511 1,801
Cash, cash equivalents, and restricted cash at end of period 179 206 1,511
SUPPLEMENTAL CASH FLOW INFORMATION:      
Interest (net of amounts capitalized) 1,002 1,021 1,085
Income taxes, net of refunds 58 21 (7)
Significant non-cash transactions:      
Accrued capital investments $ 252 $ 207 $ 114