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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:      
NET INCOME $ 439 $ 1,283 $ 1,079
Adjustments to reconcile net income to net cash from operating activities-      
Depreciation, amortization, and impairments 1,317 1,664 1,199
Retirement benefits, net of payments (378) (417) (301)
Pension and OPEB mark-to-market adjustments (72) (382) 477
Deferred income taxes and investment tax credits, net 989 297 113
Transmission revenue collections, net 79 182 (32)
Gain on sale of Yards Creek (Note 14) 0 (109) 0
Settlement agreement and tax sharing payments to the FES Debtors 0 0 (978)
Gain on disposal, net of tax (Note 15) 0 (47) (76)
Changes in current assets and liabilities-      
Receivables (292) 160 (129)
Materials and supplies (161) 57 (32)
Prepaid taxes and other current assets (28) 18 6
Accounts payable 560 117 (138)
Accrued taxes 22 7 159
Accrued interest (29) 0 33
Other current liabilities 21 (52) 81
Cash collateral, net 111 31 (12)
Other 105 2 (26)
Net cash provided from operating activities 2,683 2,811 1,423
New financing-      
Long-term debt 700 2,100 3,425
Short-term borrowings, net 100 0 1,200
Common stock issuance 0 1,000 0
Redemptions and repayments-      
Long-term debt (3,005) (532) (1,114)
Short-term borrowings, net 0 (2,200) 0
Discounts (premiums) on debt issuances and redemptions, net (151) 27 (4)
Proceeds from FET minority interest sale, net of transaction costs 2,348 0 0
Distributions to FET minority interest (21) 0 0
Capital contributions from FET minority interest 9 0 0
Common stock dividend payments (891) (849) (845)
Other (1) (88) (55)
Net cash provided from (used for) financing activities (912) (542) 2,607
CASH FLOWS FROM INVESTING ACTIVITIES:      
Property additions (2,756) (2,445) (2,657)
Proceeds from sale of Yards Creek 0 155 0
Sales of investment securities held in trusts 48 48 186
Purchases of investment securities held in trusts (59) (59) (208)
Asset removal costs (213) (226) (224)
Other (96) (32) (5)
Net cash used for investing activities (3,076) (2,559) (2,908)
Net change in cash, cash equivalents and restricted cash (1,305) (290) 1,122
Cash, cash equivalents, and restricted cash at beginning of period 1,511 1,801 679
Cash, cash equivalents, and restricted cash at end of period 206 1,511 1,801
SUPPLEMENTAL CASH FLOW INFORMATION:      
Interest (net of amounts capitalized) 1,021 1,085 970
Income taxes, net of refunds $ 21 $ (7) $ 6