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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities    
Net income $ 219 $ 214
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 245 230
Deferred income taxes (3) (31)
Allowance for equity funds used during construction (13) (7)
Provision for bad debts 8 10
Changes in operating assets and liabilities:    
Accounts receivable (12) 40
Accrued unbilled revenues 49 200
Inventories 45 120
Other current assets 5 24
Accounts payable (118) (195)
Net regulatory assets and liabilities 70 62
Other current liabilities 109 98
Pension and other employee benefit obligations (5) 0
Other, net (15) (5)
Net cash provided by operating activities 584 760
Investing activities    
Utility capital/construction expenditures (663) (464)
Investments in utility money pool arrangement (64) 0
Repayments from utility money pool arrangement 64 0
Net cash used in investing activities (663) (464)
Financing activities    
Repayments of short-term borrowings, net (52) 65
Borrowings under utility money pool arrangement 381 0
Repayments under utility money pool arrangement (182) 0
Repayments of long-term debt 0 (250)
Capital contributions from parent 79 74
Dividends paid to parent (130) (173)
Net cash provided by (used in) financing activities 96 (284)
Net change in cash, cash equivalents and restricted cash 17 12
Cash, cash equivalents and restricted cash at beginning of period 13 10
Cash, cash equivalents and restricted cash at end of period 30 22
Supplemental disclosure of cash flow information:    
Cash paid for interest (net of amounts capitalized) (77) (79)
Cash received for income taxes, net; includes proceeds from tax credit transfers 42 20
Supplemental disclosure of non-cash investing and financing transactions:    
Accrued property, plant and equipment additions 215 154
Inventory transfers to property, plant and equipment 18 15
Operating lease right-of-use assets 0 17
Allowance for equity funds used during construction $ 13 $ 7