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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities    
Net income $ 301 $ 237
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 357 317
Deferred income taxes 9 9
Amortization of investment tax credits (1) (1)
Allowance for equity funds used during construction (12) (20)
Provision for bad debts 10 11
Changes in operating assets and liabilities:    
Accounts receivable 5 25
Accrued unbilled revenues 53 65
Inventories 8 20
Other current assets 13 7
Accounts payable (10) (83)
Net regulatory assets and liabilities (554) 41
Other current liabilities (187) (86)
Pension and other employee benefit obligations (50) (47)
Other, net 60 (10)
Net cash provided by operating activities 2 485
Investing activities    
Utility capital/construction expenditures (705) (918)
Investments in utility money pool arrangement (240) (366)
Repayments from utility money pool arrangement 240 366
Net cash used in investing activities (705) (918)
Financing activities    
Repayments of short-term borrowings, net (136) 0
Borrowings under utility money pool arrangement 443 1,311
Repayments under utility money pool arrangement (500) (1,350)
Proceeds from issuance of long-term debt 738 735
Capital contributions from parent 447 778
Dividends paid to parent (221) (574)
Net cash provided by financing activities 771 900
Net change in cash, cash equivalents and restricted cash 68 467
Cash, cash equivalents and restricted cash at beginning of period 28 11
Cash, cash equivalents and restricted cash at end of period 96 478
Supplemental disclosure of cash flow information:    
Cash paid for interest (net of amounts capitalized) (116) (107)
Cash paid for income taxes, net (15) (18)
Supplemental disclosure of non-cash investing and financing transactions:    
Accrued property, plant and equipment additions 126 113
Inventory transfers to property, plant and equipment 10 17
Allowance for equity funds used during construction 12 20
Operating lease right-of-use assets $ 1 $ 8