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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities    
Net income $ 43 $ 45
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 46 42
Deferred income taxes 3 (2)
Allowance for equity funds used during construction 3 2
Provision for bad debts 1 2
Changes in operating assets and liabilities:    
Accounts receivable (13) (16)
Accrued unbilled revenues 9 20
Inventories 3 15
Other current assets 5 13
Accounts payable (7) (10)
Net regulatory assets and liabilities (1) 17
Other current liabilities 5 0
Pension and other employee benefit obligations (7) (3)
Other, net 2 1
Net cash provided by operating activities 86 122
Investing activities    
Capital/construction expenditures (121) (101)
Net cash used in investing activities (121) (101)
Financing activities    
Repayments of short-term borrowings, net (60) (35)
Borrowings under utility money pool arrangement 130 0
Repayments under utility money pool arrangement (111) 0
Capital contributions from parent 106 36
Dividends paid to parent (25) (23)
Net cash provided (used in) by financing activities 40 (22)
Net change in cash, cash equivalents and restricted cash 5 (1)
Cash, cash equivalents and restricted cash at beginning of period 6 2
Cash, cash equivalents and restricted cash at end of period 11 1
Supplemental disclosure of cash flow information:    
Cash paid for interest (net of amounts capitalized) (12) (13)
Cash paid for income taxes, net (7) (4)
Supplemental disclosure of non-cash investing and financing transactions:    
Accrued property, plant and equipment additions 33 33
Inventory transfers to property, plant and equipment 2 2
Allowance for equity funds used during construction $ 3 $ 2