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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities    
Net income $ 708 $ 673
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 1,210 1,043
Nuclear fuel amortization 61 56
Deferred income taxes (135) (67)
Allowance for equity funds used during construction (33) (32)
Earnings from equity method investments (26) (34)
Dividends from equity method investments 20 21
Provision for bad debts 30 27
Share-based compensation expense 14 21
Changes in operating assets and liabilities:    
Accounts receivable (97) (63)
Accrued unbilled revenues 70 14
Inventories (44) 7
Other current assets 26 24
Accounts payable 137 (15)
Net regulatory assets and liabilities 213 (794)
Other current liabilities (134) (265)
Pension and other employee benefit obligations (32) (128)
Other, net 0 1
Net cash provided by operating activities 1,988 489
Investing activities    
Capital/construction expenditures (2,040) (1,967)
Purchase of investment securities (787) (628)
Proceeds from the sale of investment securities 769 410
Other, net 3 (17)
Net cash used in investing activities (2,055) (2,202)
Financing activities    
(Repayments of) proceeds from short-term borrowings, net (869) 1,161
Proceeds from issuances of long-term debt 2,066 1,821
Repayments of long-term debt, including reacquisition premiums (600) (399)
Proceeds from issuance of common stock 151 11
Dividends paid (497) (460)
Other, net (15) (12)
Net cash provided by financing activities 236 2,122
Net change in cash, cash equivalents and restricted cash 169 409
Cash, cash equivalents and restricted cash at beginning of period 166 129
Cash, cash equivalents and restricted cash at end of period 335 538
Supplemental disclosure of cash flow information:    
Cash paid for interest (net of amounts capitalized) (425) (390)
Cash paid for income taxes, net (9) (5)
Supplemental disclosure of non-cash investing and financing transactions:    
Accrued property, plant and equipment additions 401 509
Inventory transfers to property, plant and equipment 30 43
Operating lease right-of-use assets 15 1
Allowance for equity funds used during construction 33 32
Issuance of common stock for reinvested dividends and/or equity awards $ 27 $ 35