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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 812 $ 773
Adjustments to reconcile to net cash flows provided by operating activities:    
Depreciation and amortization 581 523
Deferred income taxes and amortization of investment tax credits 84 129
Provision for losses on accounts receivable 19 17
Pension and non-pension postretirement benefits (2) (2)
Other non-cash, net 11 (28)
Changes in assets and liabilities:    
Receivables and unbilled revenues (133) (109)
Income tax receivable 79 60
Pension contributions (33) (34)
Accounts payable and accrued liabilities 11 18
Accrued taxes 113 37
Other assets and liabilities, net (136) (37)
Net cash provided by operating activities 1,406 1,347
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (1,962) (1,779)
Acquisitions, net of cash acquired (119) (36)
Removal costs from property, plant and equipment retirements, net (112) (113)
Purchases of available-for-sale fixed-income securities (113) 0
Proceeds from sales and maturities of available-for-sale fixed-income securities 147 0
Net cash used in investing activities (2,159) (1,928)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from long-term debt, net of discount 1,416 1,246
Repayments of long-term debt (474) (263)
Net proceeds from common stock financing 0 1,688
Net short-term borrowings (repayments) with maturities less than three months 35 (1,175)
Advances and contributions in aid of construction, net of refunds of $24 and $21 for the nine months ended September 30, 2024 and 2023, respectively 33 40
Debt issuance costs (13) (15)
Dividends paid (436) (395)
Other, net 5 (1)
Net cash provided by financing activities 566 1,125
Net (decrease) increase in cash, cash equivalents and restricted funds (187) 544
Cash, cash equivalents and restricted funds at beginning of period 364 117
Cash, cash equivalents and restricted funds at end of period 177 661
Non-cash investing activity:    
Capital expenditures acquired on account but unpaid as of the end of period $ 317 $ 348