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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities      
Net income $ 695 $ 727 $ 660
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation and amortization 929 854 754
Deferred income taxes (138) (10) 21
Allowance for equity funds used during construction (39) (32) (28)
Provision for bad debts 34 38 26
Changes in operating assets and liabilities:      
Accounts receivable 36 (227) (58)
Accrued unbilled revenues 158 (169) (52)
Inventories (14) (86) (71)
Other current assets 22 12 (23)
Accounts payable (107) 183 66
Net regulatory assets and liabilities 270 82 (526)
Other current liabilities 97 8 30
Pension and other employee benefit obligations 11 (13) (53)
Other, net 0 (112) (19)
Net cash provided by operating activities 1,954 1,255 727
Investing activities      
Utility capital/construction expenditures (2,360) (1,880) (1,604)
Investments in utility money pool arrangement (367) (45) (273)
Repayments from utility money pool arrangement 367 45 273
Net cash used in investing activities (2,360) (1,880) (1,604)
Financing activities      
Proceeds from short-term borrowings, net 26 146 11
Borrowings under utility money pool arrangement 781 1,199 743
Repayments under utility money pool arrangement (730) (1,199) (800)
Proceeds from issuance of long-term debt 834 686 737
Repayments of long-term debt (250) (300) 0
Capital contributions from parent 400 569 650
Dividends paid to parent (652) (491) (467)
Net cash provided by financing activities 409 610 874
Net change in cash and cash equivalents 3 (15) (3)
Cash, cash equivalents and restricted cash at beginning of period 10 25 28
Cash, cash equivalents and restricted cash at end of period 13 10 25
Supplemental disclosure of cash flow information:      
Cash paid for interest (net of amounts capitalized) (271) (250) (230)
Cash paid for income taxes, net (126) (79) (14)
Supplemental disclosure of non-cash investing and financing transactions:      
Accrued property, plant and equipment additions 248 233 157
Inventory transfers to property, plant and equipment 75 12 10
Operating lease right-of-use assets 18 140 0
Allowance for equity funds used during construction $ 39 $ 32 $ 28