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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 1,172 $ 657
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 539 493
Deferred income taxes and investment tax credits 253 347
Equity earnings (219) (326)
Foreign currency transaction (gains) losses, net (1) 19
Share-based compensation expense 17 17
Fixed-price contracts and other derivatives (374) 105
Other 142 50
Net change in working capital components 451 326
Distributions from investments 199 204
Changes in other noncurrent assets and liabilities, net (199) (285)
Net cash provided by operating activities 1,980 1,607
CASH FLOWS FROM INVESTING ACTIVITIES    
Expenditures for property, plant and equipment (1,830) (1,204)
Expenditures for investments (85) (85)
Purchases of nuclear decommissioning and other trust assets (181) (242)
Proceeds from sales of nuclear decommissioning and other trust assets 199 242
Other 2 (1)
Net cash used in investing activities (1,895) (1,290)
CASH FLOWS FROM FINANCING ACTIVITIES    
Common dividends paid (360) (349)
Issuances of common stock 0 3
Repurchases of common stock (31) (226)
Issuances of debt (maturities greater than 90 days) 1,986 4,023
Payments on debt (maturities greater than 90 days) and finance leases (1,803) (1,048)
Increase (decrease) in short-term debt, net 168 (720)
Advances from unconsolidated affiliates 14 18
Proceeds from sales of noncontrolling interests 265 13
Distributions to noncontrolling interests (43) (53)
Contributions from noncontrolling interests 97 6
Settlement of cross-currency swaps (99) 0
Other (43) (29)
Net cash provided by financing activities 151 1,638
Effect of exchange rate changes on cash, cash equivalents and restricted cash 5 0
Increase in cash, cash equivalents and restricted cash 241 1,955
Cash, cash equivalents and restricted cash, January 1 462 581
Cash, cash equivalents and restricted cash, March 31 703 2,536
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Interest payments, net of amounts capitalized 305 233
Income tax payments, net of refunds 50 80
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES    
Accrued capital expenditures 1,171 468
Increase in finance lease obligations for investment in PP&E 17 13
Increase in ARO for investment in PP&E 0 23
Preferred stock    
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES    
Dividends declared but not paid 11 11
Common stock    
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES    
Dividends declared but not paid $ 374 $ 362