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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating Activities      
Net income $ 503 $ 229 $ 308
Adjustments to reconcile net income to net cash provided by operating activities:      
Impairment of assets and other charges 4 311 (14)
Deferred income taxes, net 255 117 229
Depreciation and amortization 507 486 474
Amortization of nuclear fuel 39 34 41
Other adjustments (33) 14 25
Changes in certain assets and liabilities:      
Receivables (72) (79) (8)
Receivables – affiliated and related party 14 (15) 4
Inventories (83) (13) 14
Prepayments (6) 13 15
Regulatory assets (532) (152) 21
Regulatory liabilities (94) (109) (193)
Accounts payable 52 44 (19)
Accounts payable – affiliated and related party 59 (59) 52
Interest accrued 2 (22) 0
Taxes accrued 14 7 (3)
Pension and other postretirement benefits (50) (8) (31)
Other assets and liabilities (73) (79) 97
Net cash provided by operating activities 506 719 1,012
Investing Activities      
Property additions and construction expenditures (697) (758) (742)
Proceeds from investments and sales or disposals of assets (19) 7 (12)
Purchase of investments (5) (9) 15
Purchase of investments - affiliated 0 0 (1)
Short-term investments – affiliated 0 15 0
Investment in affiliate, net 0 0 (7)
Other 6 (5) 0
Net cash used in investing activities (715) (750) (747)
Financing Activities      
Proceeds from issuance of debt 0 397 0
Repayment of long-term debt 0 (34) 0
Dividend to parent (433) (188) (38)
Short-term borrowings, net 249 0 0
Short-term borrowings – affiliated, net 354 60 (219)
Return of capital to parent 0 (150) 0
Other (4) (5) (7)
Net cash provided by (used in) financing activities 166 80 (264)
Net increase (decrease) in cash, restricted cash and equivalents (43) 49 1
Cash, restricted cash and equivalents at beginning of period 54 5 4
Cash, restricted cash and equivalents at end of period 11 54 5
Supplemental Cash Flow Information      
Interest paid (net of capitalized interest of $7, $3 and $5) 190 175 176
Income taxes paid 0 16 0
Income taxes received 130 0 220
Noncash investing and financing activities:      
Accrued construction expenditures [1] 126 110 48
Leases [1],[2] 6 0 3
Contributed capital [1] $ 72 $ 149 $ 322
[1] See Note 5 for noncash financing activities related to capital contributions associated with the settlement of litigation. See Note 12 for noncash investing activities related to the transfer of property associated with the settlement of litigation.
[2] Includes $3 million of financing leases entered into during the year ended December 31, 2020, and $6 million of operating leases entered into during the year ended December 31, 2022.