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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating activities    
Net income $ 167 $ 129
Adjustments to reconcile net income to cash (used in) provided by operating activities:    
Depreciation and amortization 177 158
Deferred income taxes 5 6
Amortization of investment tax credits (1) (1)
Allowance for equity funds used during construction (5) (9)
Provision for bad debts 5 0
Net realized and unrealized hedging and derivative transactions (1) 2
Changes in operating assets and liabilities:    
Accounts receivable (63) 8
Accrued unbilled revenues 66 75
Inventories 17 30
Other current assets 10 8
Accounts payable (44) (95)
Net regulatory assets and liabilities (555) 43
Other current liabilities 18 33
Pension and other employee benefit obligations (48) (48)
Other, net (1) (6)
Net cash (used in) provided by operating activities (253) 333
Investing activities    
Utility capital/construction expenditures (320) (458)
Investments in utility money pool arrangement (180) 0
Repayments from utility money pool arrangement 167 0
Net cash used in investing activities (333) (458)
Financing activities    
Repayments of short-term borrowings, net (136) 0
Borrowings under utility money pool arrangement 435 446
Repayments under utility money pool arrangement (492) (289)
Proceeds from issuance of long-term debt 738 0
Capital contributions from parent 307 83
Dividends paid to parent (105) (111)
Net cash provided by financing activities 747 129
Net change in cash, cash equivalents and restricted cash 161 4
Cash, cash equivalents and restricted cash at beginning of period 28 11
Cash, cash equivalents and restricted cash at end of period 189 15
Supplemental disclosure of cash flow information:    
Cash paid for interest (net of amounts capitalized) (83) (73)
Cash (paid) received for income taxes, net (22) 2
Supplemental disclosure of non-cash investing and financing transactions:    
Accrued property, plant and equipment additions 112 132
Inventory transfers to property, plant and equipment 9 8
Allowance for equity funds used during construction $ 5 $ 9