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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating activities    
Net income $ 295 $ 315
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 466 438
Nuclear fuel amortization 33 31
Deferred income taxes 34 26
Allowance for equity funds used during construction (23) (20)
Equity earnings of unconsolidated subsidiaries (11) (9)
Dividends from unconsolidated subsidiaries 11 10
Share-based compensation expense 26 19
Changes in operating assets and liabilities:    
Accounts receivable 7 (114)
Accrued unbilled revenues 149 92
Inventories 33 84
Other current assets (31) (33)
Accounts payable (201) 4
Net regulatory assets and liabilities 101 153
Other current liabilities (77) (36)
Pension and other employee benefit obligations (157) (145)
Other, net 14 (22)
Net cash provided by operating activities 669 793
Investing activities    
Capital/construction expenditures (1,607) (844)
Purchases of investment securities (835) (305)
Proceeds from the sale of investment securities 830 300
Other, net 6 (3)
Net cash used in investing activities (1,606) (852)
Financing activities    
Proceeds from short-term borrowings, net 1,170 214
Proceeds from issuances of long-term debt 0 392
Repayments of long-term debt, including reacquisition premiums 0 (400)
Dividends paid (204) (187)
Other, net (33) (13)
Net cash provided by financing activities 933 6
Net change in cash, cash equivalents and restricted cash (4) (53)
Cash, cash equivalents and restricted cash at beginning of period 248 147
Cash, cash equivalents and restricted cash at end of period 244 94
Supplemental disclosure of cash flow information:    
Cash paid for interest (net of amounts capitalized) (207) (190)
Cash received (paid) for income taxes, net 0 0
Supplemental disclosure of non-cash investing and financing transactions:    
Accrued property, plant and equipment additions 284 238
Inventory transfers to property, plant and equipment 33 18
Operating lease right-of-use assets 0 1,659
Allowance for equity funds used during construction 23 20
Issuance of common stock for equity awards $ 18 $ 17