XML 39 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Operating activities:    
Net income (loss) $ 146,171 $ 112,466
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation 163,558 148,361
Amortization 24,890 36,423
Conservation amortization 62,921 56,084
Deferred income taxes and tax credits, net 52,657 43,278
Net unrealized (gain) loss on derivative instruments (76,850) (23,542)
Pension funding (11,400) (5,000)
Derivative contracts classified as financing activities due to merger 47,423 123,951
AFUDC - Equity (14,485) (12,033)
Regulatory assets (61,856) 18,450
Regulatory liabilities 37,752 (3,203)
Other long-term assets 7,302 (23,919)
Other long-term liabilities 45,284 32,113
Change in certain current assets and liabilities:    
Accounts receivable and unbilled revenue 174,353 169,838
Materials and supplies (13,722) 6,416
Fuel and gas inventory 31,138 28,880
Income taxes 1,892 63,893
Prepayments and other (4,190) (2,154)
Purchased gas adjustment 23,671 18,716
Accounts payable (86,438) (51,557)
Taxes payable (10,835) (6,726)
Accrued expenses and other 6,621 10,632
Net cash provided by operating activities 545,857 741,367
Investing activities:    
Construction expenditures - excluding equity AFUDC (398,900) (567,837)
Energy efficiency expenditures (48,232) (37,758)
Restricted cash 639 1,018
Other (28,410) 1,525
Net cash used in investing activities (474,903) (603,052)
Financing activities:    
Change in short-term debt and leases, net 9,211 (248,765)
Dividends paid (88,444) (116,691)
Long-term notes and bonds issued 1,314,000 1,087,000
Redemption of bonds and notes (1,273,000) (744,000)
Derivative contracts classified as financing activities due to merger (47,423) (123,951)
Issuance cost of bonds and other (6,400) (5,593)
Net cash provided by (used in) financing activities (92,056) (152,000)
Net increase (decrease) in cash and cash equivalents (21,102) (13,685)
Cash and cash equivalents at beginning of period 37,235 36,557
Cash and cash equivalents at end of period 16,133 22,872
Supplemental cash flow information:    
Cash payments for interest (net of capitalized interest) 170,262 152,789
Cash payments (refunds) for income taxes (1,898) (64,018)
PUGET SOUND ENERGY, INC. [Member]
   
Operating activities:    
Net income (loss) 193,588 154,352
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation 163,558 148,361
Amortization 24,890 36,423
Conservation amortization 62,921 56,084
Deferred income taxes and tax credits, net 77,611 67,272
Net unrealized (gain) loss on derivative instruments (49,715) (15,632)
Pension funding (11,400) (5,000)
AFUDC - Equity (14,485) (12,033)
Regulatory assets (61,856) 18,450
Regulatory liabilities 37,752 (3,203)
Other long-term assets 10,875 (24,644)
Other long-term liabilities 31,394 18,448
Change in certain current assets and liabilities:    
Accounts receivable and unbilled revenue 174,193 169,612
Materials and supplies (13,722) 6,416
Fuel and gas inventory 31,138 28,880
Income taxes 1,892 50,396
Prepayments and other (4,190) (2,154)
Purchased gas adjustment 23,671 18,716
Accounts payable (86,555) (51,865)
Taxes payable (10,835) (6,726)
Accrued expenses and other (14,296) (1,308)
Net cash provided by operating activities 566,429 650,845
Investing activities:    
Construction expenditures - excluding equity AFUDC (398,900) (567,837)
Energy efficiency expenditures (48,232) (37,758)
Restricted cash 639 1,018
Other (7,635) 12,042
Net cash used in investing activities (454,128) (592,535)
Financing activities:    
Change in short-term debt and leases, net 9,211 (248,765)
Dividends paid (137,329) (164,121)
Long-term notes and bonds issued 0 300,000
Loan from (payment to) parent 0 7,400
Redemption of bonds and notes 0 (260,000)
Investment from parent 0 287,000
Issuance cost of bonds and other (563) 203
Net cash provided by (used in) financing activities (128,681) (78,283)
Net increase (decrease) in cash and cash equivalents (16,380) (19,973)
Cash and cash equivalents at beginning of period 31,010 36,320
Cash and cash equivalents at end of period 14,630 16,347
Supplemental cash flow information:    
Cash payments for interest (net of capitalized interest) 106,823 96,703
Cash payments (refunds) for income taxes $ (1,898) $ (50,421)