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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 $ 308 $ 301
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 410 357
Deferred income taxes (1) 9
Amortization of investment tax credits (1) (1)
Allowance for equity funds used during construction (14) (12)
Provision for bad debts 15 10
Net realized and unrealized hedging and derivative transactions (11) (31)
Changes in operating assets and liabilities:    
Accounts receivable (10) 5
Accrued unbilled revenues 66 53
Inventories 3 8
Other current assets (10) 13
Accounts payable 75 (10)
Net regulatory assets and liabilities (24) (554)
Other current liabilities (105) (187)
Pension and other employee benefit obligations (14) (50)
Other, net (46) 91
Net cash provided by operating activities 641 2
Investing activities    
Utility capital/construction expenditures (873) (705)
Investments in utility money pool arrangement (45) (240)
Repayments from utility money pool arrangement 45 240
Net cash used in investing activities (873) (705)
Financing activities    
Repayments of short-term borrowings, net (147) (136)
Borrowings under utility money pool arrangement 411 443
Repayments under utility money pool arrangement (386) (500)
Proceeds from issuance of long-term debt (686) (738)
Repayments of long-term debt (300) 0
Capital contributions from parent 183 447
Dividends paid to parent (233) (221)
Net cash provided by financing activities 214 771
Net change in cash, cash equivalents and restricted cash (18) 68
Cash, cash equivalents and restricted cash at beginning of period 25 28
Cash, cash equivalents and restricted cash at end of period 7 96
Supplemental disclosure of cash flow information:    
Cash paid for interest (net of amounts capitalized) (117) (116)
Cash paid for income taxes, net (50) (15)
Supplemental disclosure of non-cash investing and financing transactions:    
Accrued property, plant and equipment additions 175 126
Inventory transfers to property, plant and equipment 12 10
Operating lease right-of-use assets 15 1
Allowance for equity funds used during construction $ 14 $ 12