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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 462 $ 450
Adjustments to reconcile to net cash flows provided by operating activities:    
Depreciation and amortization 381 346
Deferred income taxes and amortization of investment tax credits 37 74
Provision for losses on accounts receivable 8 9
Pension and non-pension postretirement benefits (1) (3)
Other non-cash, net (27) (40)
Changes in assets and liabilities:    
Receivables and unbilled revenues (96) (83)
Income tax receivable 69 40
Pension contributions (22) (20)
Accounts payable and accrued liabilities (79) (22)
Accrued taxes 45 19
Other assets and liabilities, net (50) (56)
Net cash provided by operating activities 727 714
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (1,279) (1,153)
Acquisitions, net of cash acquired (119) (33)
Removal costs from property, plant and equipment retirements, net (73) (78)
Net cash used in investing activities (1,471) (1,264)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from long-term debt, net of discount 1,403 1,160
Repayments of long-term debt (466) (170)
Net proceeds from common stock financing 0 1,688
Net short-term repayments with maturities less than three months (179) (1,175)
Advances and contributions in aid of construction, net of refunds of $16 and $16 for the six months ended June 30, 2024 and 2023, respectively 18 28
Debt issuance costs (13) (13)
Dividends paid (287) (257)
Other, net 2 (4)
Net cash provided by financing activities 478 1,257
Net (decrease) increase in cash, cash equivalents and restricted funds (266) 707
Cash, cash equivalents and restricted funds at beginning of period 364 117
Cash, cash equivalents and restricted funds at end of period 98 824
Non-cash investing activity:    
Capital expenditures acquired on account but unpaid as of the end of period $ 375 $ 343