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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 $ 128.7 $ 138.8
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 157.7 148.2
Deferred income taxes 5.9 (1.2)
Amortization of investment tax credits (0.6) (0.6)
Allowance for equity funds used during construction (8.6) (4.1)
Net realized and unrealized hedging and derivative transactions 1.7 (2.6)
Changes in operating assets and liabilities:    
Accounts receivable 7.8 (54.7)
Accrued unbilled revenues 75.3 32.2
Inventories 30.4 33.5
Prepayments and other 8.3 (9.3)
Accounts payable (94.6) (45.7)
Net regulatory assets and liabilities 42.7 93.2
Other current liabilities 32.6 42.6
Pension and other employee benefit obligations (48.4) (43.7)
Other, net (5.9) 1.9
Net cash provided by operating activities 333.0 328.5
Investing activities    
Utility capital/construction expenditures (458.4) (282.9)
Investments in utility money pool arrangement 0.0 (131.0)
Repayments from utility money pool arrangement 0.0 131.0
Net cash used in investing activities (458.4) (282.9)
Financing activities    
Repayments of short-term borrowings, net 0.0 (68.0)
Borrowings under utility money pool arrangement 446.0 0.0
Repayments under utility money pool arrangement (289.0) 0.0
Proceeds from issuance of long-term debt 0.0 392.6
Repayments of long-term debt 0.0 400.0
Capital contributions from parent 83.4 112.2
Dividends paid to parent (111.5) (91.6)
Other, net (0.3) 0.0
Net cash provided by financing activities 128.6 (54.8)
Net change in cash, cash equivalents and restricted cash 3.2 (9.2)
Cash, cash equivalents and restricted cash at beginning of period 11.4 33.4
Cash, cash equivalents and restricted cash at end of period 14.6 24.2
Supplemental disclosure of cash flow information:    
Cash paid for interest (net of amounts capitalized) (72.6) (65.3)
Cash paid for income taxes, net 1.9 (10.7)
Supplemental disclosure of non-cash investing and financing transactions:    
Accrued property, plant and equipment additions 132.1 85.1
Inventory transfers to property, plant and equipment 8.1 6.9
Operating lease right-of-use assets 0.0 652.8
Allowance for equity funds used during construction $ 8.6 $ 4.1